We Would Expect the Own Price Elasticity of Demand for Food

question 53

Multiple Choice

We would expect the own price elasticity of demand for food to be:

• A) less elastic than the demand for cereal.
• B) more elastic than the demand for cereal.
• C) the same as that for soap.
• D) perfectly inelastic.

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Definitions:

Andrew Ure

A Scottish doctor, scholar, and significant figure in the Industrial Revolution known for his work in chemistry and contributions to industrial management.

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