Forum post | Business & Finance homework help
Toothpaste: Inelastic. Toothpaste is an essential product and has few substitutes, making it less price elastic than other items.
Cookie Dough Ice Cream: Elastic. Cookie dough ice cream is considered a luxury item as it has multiple substitutes and generally isn’t purchased in bulk or in large quantities, making it more price elastic than other items.
Fresh Green Beans: Elastic. Fresh green beans are perishable and have a number of substitutes including frozen green beans and canned green beans, making them more price elastic than other items.
Gasoline: Inelastic. Gasoline is essential for transportation needs with few available substitutes, making it less price elastic than other items