Chapter 6. Estimating Elasticities

EIA Activity: Estimating Elasticities

Click on the links on the right to answer the following questions.

  1. Question

    Use Link 1 to answer the following questions. True or False: Most consumer goods and services purchased have a price elasticity of demand between 2 and 2.5.

    A.
    B.

  2. Question

    Coffee has an estimated price elasticity of demand of:

    A.
    B.
    C.
    D.

  3. Question

    Toothpicks have an estimated price elasticity of demand of:

    A.
    B.
    C.
    D.

  4. Question

    Physician services have an estimated price elasticity of demand of:

    A.
    B.
    C.
    D.

  5. Question

    Overall, do you consider yourself to be a more price sensitive consumer, or a less price sensitive consumer? Explain.

    Your response will be graded by your instructor.
    Overall, do you consider yourself to be a more price sensitive consumer, or a less price sensitive consumer? Explain.

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