[Kathryn Longstaff]

Kathryn Longstaff

Lesson 8.6.2 Part 4

1. Which five products are the most inelastic?​
2. Which five products are the most elastic?​
3. What are three reasons why salt is more inelastic than fresh tomatoes? ​
4. Why would the demand for toothpicks be inelastic? Are the reasons the same as the reasons for salt?​
5. Although both short-run and long-run gasoline are both inelastic, why is short-run gasoline more inelastic than long-run gasoline?​
6. What does it mean that private education has a coefficient of 1.1?​
7. What are three factors that explain why demand for foreign travel is elastic?​
8. What factors would likely explain why Chevrolet cars are very elastic?​
9. What are three factors that determine whether demand for a good or service will be elastic or inelastic?​