Changes

Key:  Additions   Deletions
Estimated Price Elasticities of Demand for Various Goods and Services

Goods
Estimated Elasticity of Demand
Inelastic
Salt 0.1
Matches 0.1
Toothpicks 0.1
Airline travel, short-run
0.1
Gasoline, short-run 0.2
Gasoline, long-run 0.7
Residential natural gas, short-run 0.1
Residential natural gas, long-run 0.5
Coffee 0.25
Fish (cod) consumed at home 0.5
Tobacco products, short-run 0.45
Legal services, short-run 0.4
Physician services 0.6
Taxi, short-run 0.6
Automobiles, long-run 0.2

Approximately Unitary Elasticity
Movies 0.9
Housing, owner occupied, long-run 1.2
Shellfish, consumed at home 0.9
Oysters, consumed at home 1.1
Private education 1.1
Tires, short-run 0.9
Tires, long-run 1.2
Radio and television receivers 1.2

Elastic
Restaurant meals 2.3
Foreign travel, long-run 4.0
Airline travel, long-run
2.4
Fresh green peas 2.8
Automobiles, short-run 1.2 - 1.5
Chevrolet automobiles 4.0
Fresh tomatoes 4.6

Source: Economics: Private and Public Choice, James D. Gwartney and Richard L. Stroup, eighth edition 1997, seventh edition 1995; primary sources: Hendrick S. Houthakker and Lester D. Taylor, Consumer Demand in the United States, 1929-1970 (Cambridge: Harvard University Press, 1966,1970); Douglas R. Bohi, Analyzing Demand Behavior (Baltimore: Johns Hopkins University Press, 1981); Hsaing-tai Cheng and Oral Capps, Jr., "Demand for Fish" American Journal of Agricultural Economics, August 1988; and U.S. Department of Agriculture.