Which of the following is likely to have the most price elastic demand? Group of answer choices All three would have the same el

Question

3 years ago

12

asticity of demand because they are all related. blue jeans clothing Tommy Hilfiger jeans

1 answer:

SashulF [63] · Answer 1 · 2022-06-21T13:36:17+03:00

Answer:

Tommy Hilfiger jeans

Explanation:

The price elasticity of demand measures quantity demanded as a result of a change in price.

The smaller the price elasticity of demand, the steeper the demand curve will be through a given point.

Tommy Hilfiger jeans are likely to have the most price elastic demand as it is very expensive so the rise in its price would affect its demand.