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1 Feb 2019
For each of the following pairs of goods, identify which one you would expect to have more own-price elastic demand.Please explain your reasoning.
Computers (generally) vs. Apple MacBook Pro laptops.
Stereo headphones (generally) vs. hearing aids.
For each of the following goods, identify whether you would expect demand to be more (own-price) elastic in the short run or the long run. As above, please briefly explain your reasoning.
Retail gasoline in the suburbs of Chicago.
Air conditioning units in Miami Beach, Florida.
For each of the following pairs of goods, identify which one you would expect to have more own-price elastic demand.Please explain your reasoning.
Computers (generally) vs. Apple MacBook Pro laptops.
Stereo headphones (generally) vs. hearing aids.
For each of the following goods, identify whether you would expect demand to be more (own-price) elastic in the short run or the long run. As above, please briefly explain your reasoning.
Retail gasoline in the suburbs of Chicago.
Air conditioning units in Miami Beach, Florida.
Liked by mariyappanswetha2020
Casey DurganLv2
1 Feb 2019
