Rank These Three Items in Terms of the Elasticity of the Demand

question 102

Multiple Choice

Rank these three items in terms of the elasticity of the demand for them at any given price, from most elastic to least elastic: alcoholic beverages, beer and Molson Canadian.

• A)alcoholic beverages, beer, Molson Canadian
• B)Molson Canadian, beer, alcoholic beverages
• C)beer, Molson Canadian, alcoholic beverages
• D)beer, alcoholic beverages, Molson Canadian

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Definitions:

Kegs of Beer

Large barrels used to store and serve beer, often associated with parties or gatherings.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a generalized prejudice towards other cultures.

Australia

A country and continent surrounded by the Indian and Pacific oceans, known for its Sydney Opera House, Great Barrier Reef, and unique wildlife.

Greece

A southeastern European country known for its ancient civilization, influential in arts, sciences, and democracy, with a rich history and cultural heritage.