1.Price elasticity of demand affects a business's ability to increase the price of a product. Elastic goods are more sensitive to increases in price, while inelastic goods are less sensitive.
2.
Income elasticity measures the responsiveness of demand to a change in income. Cross price elasticity of demand measures the responsiveness of quantity demanded to a change in price of another good. Demand elasticity of make pricing decision will define how the market will react to changes in price.
John and jill are voting. that makes it B or C. They are not voting directly for the idea, they are voting for a person for that idea. Therefore, it is c.
