Business, 12.06.2020 21:57 Ashlynnocean6305
For each of the following pairs of goods, which good would you expect to have more elastic demand and explain clearly why? (8 marks)
a. Coca-Cola or water
b. Required textbooks or fiction novels
c. Ice-cream or chocolate ice-cream’
d. Train ride during the next 6 months or train rides during the next 5 years
Answers: 3
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For each of the following pairs of goods, which good would you expect to have more elastic demand an...
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