Click on the links on the right to answer the following questions.
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. |
Coffee has an estimated price elasticity of demand of:
A. |
B. |
C. |
D. |
Toothpicks have an estimated price elasticity of demand of:
A. |
B. |
C. |
D. |
Physician services have an estimated price elasticity of demand of:
A. |
B. |
C. |
D. |
Overall, do you consider yourself to be a more price sensitive consumer, or a less price sensitive consumer? Explain.
<<Settings>> [suggested defaults are bold]