Question

Price elasticity of demand would be higher for which goods​

Answer 1

Answer:

For example, gasoline has little price elasticity of demand. Drivers will continue to buy as much as they have to, as will airlines, the trucking industry, and nearly every other buyer. Other goods are much more elastic, so price changes for these goods cause substantial changes in their demand or their supply.

Answer 2

Answer:

For example, gasoline has little price elasticity of demand. Drivers will continue to buy as much as they have to, as will airlines, the trucking industry, and nearly every other buyer. Other goods are much more elastic, so price changes for these goods cause substantial changes in their demand or their supply.