Elastic products are most likely to be:

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Elastic products are those whose demand significantly changes in response to price fluctuations. Luxury goods, which fall into the category of elastic products, tend to have more sensitive demand because they are not essential for day-to-day living. When the price of luxury goods increases, consumers often react by reducing their purchases or opting for less expensive alternatives, as these items are considered discretionary.

In contrast, basic food items, essential clothing, and public services are generally inelastic because they are necessities that consumers will need regardless of price changes. Essential clothing and basic food items are vital for everyday life, so their demand remains relatively stable even when prices change. Public services, which are often funded by the government, are also not typically subject to the same market price fluctuations and are typically required irrespective of cost. Thus, luxury goods represent the clearest example of elastic demand within the provided choices.

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