QUESTION IMAGE
Question
the demand for which of the following is likely to be the most price inelastic?
a. airline tickets
b. bus tickets
c. transportation
d. taxi rides
Brief Explanations
Price inelastic demand means quantity demanded changes little when price changes. Broader, less substitutable goods have more inelastic demand. "Transportation" is the most general category here—there are very few substitutes for transportation overall, while airline tickets, bus tickets, and taxi rides are specific, substitutable forms of transportation.
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c. transportation