Of the Following Items, Which Has the Most Inelastic Demand

question 499

Multiple Choice

Of the following items, which has the most inelastic demand?

• A) food
• B) fruit
• C) apples
• D) Gala apples

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Definitions:

Z Score

A statistical measurement that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations from the mean.

Mean

The mean is a measure of central tendency that calculates the average value of a set of numbers by dividing the sum of those numbers by their quantity.

Z Score

A statistical measure that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations from the mean.

Scores

Quantitative values assigned to individuals to represent or measure specific traits or outcomes.