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According to posting from last fall, sales for products such as Spam, pancake mixes, instant potatoes, rice and beans have been booming during the recession; a spokesperson from a grocery chain is quoted as saying "They're real belly fillers." Comment on this, using concept related to any one of the elasticities.

Summary

The question relates to Economics, particularly Micro-economics and it is discuss about the question about booming products during recession such as pancake mixes, spam, beans, rice and instant potatoes. Why does this happen from economics and price elasticity point of view have been explained in the answer.

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Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91395149
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