Which of These Products Would Have the Lowest Elasticity of Demand

question 60

Multiple Choice

Which of these products would have the lowest elasticity of demand?

• A) frozen pizza
• B) public transportation
• C) electricity
• D) cosmetic surgery

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Definitions:

Consistent Personality Traits

Aspects of an individual's character that are stable over time and across situations.

Television Performers

Professionals who act, host, or perform in television shows or broadcasts.

Closest Friends

denotes those individuals with whom one shares a deep, personal bond, characterized by mutual affection, trust, and support.

Actor-Observer Effect

A psychological phenomenon where people tend to attribute their own actions to situational factors, but the actions of others to their personalities.