Question

Which of the following products is most sensitive to elastic demand?

(1 point)
Responses

yachts

yachts

eggs

eggs

furniture

furniture

toilet paper

toilet paper

Answer 1

Among the options provided, yachts are generally the most sensitive to elastic demand. Elastic demand means that consumers are more responsive to changes in price. Luxury items like yachts tend to have elastic demand because when prices rise, consumers may choose not to purchase them or to look for cheaper alternatives. In contrast, eggs, furniture, and toilet paper are more inelastic, as they are essential goods that people need regardless of price changes.