QUESTION 12 Which of the following product will have the most price inelastic demand? (Note: Meaning people are less responsiveness to a price change) O a. books b. meals in a restaurant. O. hot coca d. water

QUESTION 12 Which of the following product will have the most price inelastic demand? (Note: Meaning people are less responsiveness to a price change) O a. books b. meals in a restaurant. O. hot coca d. water

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 34P: The equation for a demand curve is P=2/Q. What is the elasticity of demand as price falls from 5 to...

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QUESTION 12
Which of the following product will have the most price inelastic demand?
(Note: Meaning people are less responsiveness to a price change)
a. books
O b.meals in a restaurant.
c. hot coca
d. water

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