Elasticity of Demand s

Describe your demand for a product if you buy the same amount of it or just a small amount less after a large price increase.

• elastic

• unitary elastic

• inelastic

• hyperelastic

Which of the following two goods is more likely to be inelastically demanded?

• Demand for Exxon gasoline at the corner of 7th and Grand

• Demand for gasoline in the entire city

During the COVID 19 Pandemic we are all experiencing now, and the information campaign from the Center for Disease Control highlighting that bacteria and other organisms cause and spread disease, will the demand curve for soap be more elastic or more inelastic?

• More elastic

• More inelastic

After the invention of nuclear power plants, will the demand curve for coal power plants be more elastic or more inelastic?

• More elastic

• More inelastic

After an economic boom, will the demand curve for TVs be more elastic or more inelastic?

• More elastic

• More inelastic