Question : Which of the following goods is likely to have the most elastic demand?

Option 1: Gasoline

Option 2: Salt

Option 3: Insulin

Option 4: Electricity

Question : Which of the following goods is most likely to have a perfectly inelastic demand?

Option 1: Salt

Option 2: Gasoline

Option 3: Luxury watches

Option 4: Soft drinks

Question : The heat value of the combustion of Gasoline is

Option 1: 12600 kJ/kg

Option 2: 14600 kJ/kg

Option 3: 39400 kJ/kg

Option 4: 47000 kJ/kg

Question :  Which goods are most likely to have an elastic demand?

Option 1: Bread

Option 2: Salt

Option 3: Luxury cars

Option 4: Gasoline