Which of the following accurately describes a situation in which consumers have elastic demand? a. a restaurant starts using margarine instead of butter because butter becomes more expensive. b. consumers boycott a restaurant because the waiters aren't paid minimum wage. c. a company starts using sugar instead of corn syrup because its revenues are up. d. people give up eating pasta and bread because they want to lose weight. 2b2t
i do belive the correct answer is d.
B. People cannot quit drinking coffee even though they want to cut down on caffeine intake.
Inelastic demand happens when people purchase the same amount of a product or the same service without paying attention to whether the price rises or drops. For example, car owners must buy gas, no matter the prices. They will buy what they need.
Demand for the coffee is inelastic
Inelastic demand is when individuals can't quit any pretence of utilising a good. People can't stop drinking coffee despite the fact that they need to cut down on caffeine consumption. The demand for coffee is inelastic because change in the price or the after effects of coffee does not change the demand for coffee consumption.
For restaurants that specialize in pasta would definitely be affected by the situation. They would definitely lower down the prices of their pasta specials. It would also affect the producers of pasta because of the decline of these restaurants. For the consumers' end, it would not affect them much because they can substitute pasta with another food which is healthier for them.