"Elasticity" Please respond to one of the following:
- Identify two (2) products whose demand is elastic and two (2) products whose demand is inelastic. What is your main reason for identifying them as having elastic or inelastic demand?
- Consider the 'pairs' of goods below. Which good in each pair is likely to have relatively more elastic demand? Why?:
- Sirloin steak or a dozen eggs Gasoline or Chevron gas specifically.
- iPhones or Androids