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Commodity Own-Price Elasticity Income Elasticity Beef and veal -0.6166 0.4549 Pork -0.7297 0.4427 Chicken -0.5308 0.3645 Turkey -0.6797 0.3196 Eggs -0.1452 -0.0283 Cheese -0.3319 0.5927
Commodity Own-Price Elasticity Income Elasticity Beef and veal -0.6166 0.4549 Pork -0.7297 0.4427 Chicken -0.5308 0.3645 Turkey -0.6797 0.3196 Eggs -0.1452 -0.0283 Cheese -0.3319 0.5927 Fluid milk -0.2588 -0.2209 Wheat flour -0.1092 -0.1333 Rice -0.1467 -0.3664 Potatoes -0.3688 0.1586 Butter -0.1670 0.0227 Margarine -0.2674 0.1112 Apples -0.2015 -0.3514 Oranges -0.9996 0.4866 Bananas -0.4002 -0.0429 Grapes -1.3780 0.4407 Grapefruits -0.2191 0.4588 Lettuce -0.1371 0.2344 Tomatoes -0.5584 0.4619 Celery -0.2516 0.1632 Onions -0.1964 0.1603 Carrots -0.0388 -0.1529 Cabbage -0.0385 -0.3767 Other fresh vegetables -0.2102 0.2837 Fruit juice -0.5612 1.1254 Canned tomatoes -0.3811 0.7878 Canned peas -0.6926 0.3295 Canned fruit cocktail -0.7323 0.7354 Sugar -0.0521 -0.1789 Sweeteners -0.0045 -0.0928 Coffee and tea -0.1868 0.0937 Ice cream and other frozen dairy products -0.1212 0.0111 Source: Huang KS, U.S. demand for food: a complete system of price and income effects, Washington, D.C., 1985, U.S. Department of Agriculture. Use the table above to answer the following question: Which product is the most price inelastic? Answer: Ice cream and other frozen dairy products
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