Question

a. List the determinants of elasticity of demand (Ed) (5)

b. Explain what each determinant means. (5)

c. Identify two examples from your own personal or professional life that illustrates EACH one of the determinants of elasticity. (10)

d. How would a University rule that states all students must use a certain Dell laptop impact your Ed for laptops. Explain your answer. (10)

e. Raising bridge and tunnel tolls almost always lead to more revenue for the government, how can this be so given the law of demand? (10)