Which of the Following Will Have the Most Elastic Demand

question 4

Multiple Choice

Which of the following will have the most elastic demand?

• A)frozen desserts
• B)ice cream
• C)strawberry ice cream
• D)a banana split made with strawberry and chocolate ice cream
• E)a banana split with Nestle strawberry and chocolate ice cream

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Definitions:

Insurer Duty

The obligations that an insurance company has toward its policyholders, including the duty to act in good faith and to pay valid claims.

Incontestability Clause

A clause in a policy for life or health insurance stating that after the policy has been in force for a specified length of time (usually two or three years), the insurer cannot contest statements made in the policyholder’s application.

Insurance Policy

A contract between an insurer and a policyholder that outlines the terms and conditions under which the insurer agrees to compensate for specific losses.

Eligibility

Refers to the suitability or qualifications required to be selected or to participate in something, often used in contexts of programs, benefits, or competitions.