Suppose the price elasticity of demand for gasoline is 0.7 and the price elasticity of demand for plane tickets is 1.8. We would say that the demand for gasoline is ________ and the demand for plane tickets is ________.   Question 10 options:   elastic; inelastic   inelastic; elastic   inelastic; inelastic   elastic; elastic

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
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Chapter20: Elasticity: Demand And Supply
Section: Chapter Questions
Problem 11E: The price elasticity of the demand for gasoline is -0.02. The price elasticity of demand for...
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Suppose the price elasticity of demand for gasoline is 0.7 and the price elasticity of demand for plane tickets is 1.8. We would say that the demand for gasoline is ________ and the demand for plane tickets is ________.
 

Question 10 options:

 
elastic; inelastic
 
inelastic; elastic
 
inelastic; inelastic
 
elastic; elastic
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