Which of the Following Is Likely to Have the Most

question 166

Multiple Choice

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

• A)chocolate
• B)Godiva chocolate
• C)Hershey's chocolate
• D)All three would have the same elasticity of demand because they are all related.

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Definitions:

Trade Discount

A discount granted by the supplier to a purchaser of goods for resale.

Trade Discount

A reduction in the retail price provided by a seller to a buyer, often based on the quantity of goods purchased or to encourage prompt payment.

Trade Discount

A deduction from the list price of goods, provided by a seller to a buyer, often based on volume of purchase or early payment.

Trade Discount

A reduction in the listed price of a good or service offered by a seller to a buyer, usually based on the quantity purchased or the buyer's status.