What is your elasticity of demand for going to this school? Is it elastic, inelastic, or unit elastic? Explain your reason. If tuition rose 10%, what would you do?
What is your elasticity of demand for gasoline? is it elastic, inelastic, or unit elastic? explain your reason. If gas prices rose 10%, what would you do?
What is your elasticity of demand for movies?, is it elastic, inelastic or unit elastic? Explain your reason. if movie ticket prices rose 10%, what would you do?