Two customers fred and lamont walk into gradys used pickups, Microeconomics

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Two customers fred and lamont walk into gradys used pickups

Qusetion: 1. Two customers, Fred and Lamont, walk into Grady's Used Pickups. Who probably has a more inelastic demand for one of Grady's pickups: people like Lamont, who are good at shopping around, or people like Fred, who know what they like and just buy it?

2. There are people who absolutely must have the latest fashions. Can you classify them as probably having elastic or inelastic demand?

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Microeconomics: Two customers fred and lamont walk into gradys used pickups

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Microeconomics: Two customers fred and lamont walk into gradys used pickups

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