Multiple Choice
You are given some data for four different products - milk, eggs, beef, and orange juice. The absolute value of the price elasticity of demand for milk is 3. The absolute value of the price elasticity of demand for eggs is 1.2. The absolute value of the price elasticity of demand for beef is 0.9. The absolute value of the price elasticity of demand for orange juice is 3.5. Which product has the most elastic demand?
A) milk
B) eggs
C) beef
D) orange juice
Correct Answer:
Verified
Correct Answer:
Verified
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