Which of the Following Is Likely to Have the Most

question 163

Multiple Choice

Which of the following is likely to have the most price elastic demand?

• A)clothing
• B)blue jeans
• C)Tommy Hilfiger jeans
• D)All three would have the same elasticity of demand because they are all related.

---

Definitions:

Pollution Reduction

The process of decreasing or eliminating the release of pollutants into the environment, typically involving regulations and technologies aimed at clean air, water, and soil.

Minimum Cost

The lowest possible expense at which a company can produce a good or service without sacrificing quality.

Efficient Amount

The quantity of a good or service that maximizes social welfare, where marginal benefits equal marginal costs.

Socially Optimum

The most desirable level of output or activity from a societal perspective, balancing costs and benefits to achieve maximum social welfare.