Tasty Treat Tea is a popular iced tea drink. When the manufacturer begins to use imported tea leaves, the price rises and consumer demand for the drink falls. This suggests that

A) Tasty Treat Tea is an elastic good because it is more of a need than a want.

B) Tasty Treat Tea is an elastic good because it is more of a want than a need.

C) Tasty Treat Tea is an inelastic good because it is more of a need than a want.

D) Tasty Treat Tea is an inelastic good because it is more of a want than a need.

Question

Rayan Kidd

22 March, 03:32

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Answers (1)

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Vanessa Frey · Answer 1

D) Tasty Treat Tea is an inelastic good because it is more of a want than a need.