This statement is true. Teenagers have a higher price elasticity than do adults.
This is because teenagers does not have much income to spend so they can shift to other products also. Teenagers are also not addict to smoking or any other habits , Therefore price affects the demand of the product.
Price elasticity is defined as the ratio of the percentage change in quantity demanded due to percentage change in price.
Elasticity having more than 1 are relatively more elastic.
Adults have more income to spent so the demand do not effects due to change in price. As adults are more addicted to smoking then teenagers ,
addicted people did not consume less due to its price change.
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Answer: B, market.
Explanation: Hope this helps you out. <3
Answer:
D) all other factors being constant, it is likely the CPI would rise during the year in question.
Explanation:
The CPI measures the price of a basket of goods and that basket includes both housing expenses and gasoline, but housing expenses are "heavier" than gasoline (their relative weight on the CPI is much higher) because they represent a much larger portion of a household's income. It is common for a family to pay $1,000 (or much more) per month on rent or a mortgage, while how many people actually spend over $1,000 per month on gas?
Make posters, put up signs, or tell people what your doing. So, people know that you exist and you are making a business
