Discuss the major determinants of price elasticity of demand.

Microeconomics

Instructions

  1. Discuss the major determinants of price elasticity of demand.
  2. With these determinants in mind, take a moment to see if you can figure out which of the following products have elastic demand and which have inelastic demand. Note: answers may vary, so DEFEND your answer.
  1. Gasoline
  2. College textbooks
  3. Coffee
  4. Airline tickets
  5. Concert tickets
  6. Soft drinks

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Discuss the major determinants of price elasticity of demand.

APA

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