Lesson 8.6.2 Part one- section B
Directions: Answer the following questions.​
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- Which of the two items – gasoline and restaurant meals – would be the most inelastic?​
- What factors make your choice more inelastic than the others?​
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Directions: Confirm the prices elasticities of gasoline and restaurant meals at the following website: https://http://www.mackinac.org/1247​
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- What is the price elasticity of short-run gasoline in this article?​
- What is the price elasticity of restaurant meals?​
- Does this confirm what you have learned about price elasticity?​
