Put the goods in the correct category, indicating whether the demand for them is elastic or inelastic. Think about each good in
terms of the typical person's quantity demanded.
1. Tropicana orange juice
2. Cocoa Pebbles cereal
3. blood pressure and diabetes medication
4. cigarettes if you smoke 3 packs a day
5. public water and other utilities
6. restaurant drive-through at 3 am
7. fast food in the food court at the mall
1. Tropicana orange juice
2. Cocoa Pebbles cereal
3. blood pressure and diabetes medication
4. cigarettes if you smoke 3 packs a day
5. public water and other utilities
6. restaurant drive-through at 3 am
7. fast food in the food court at the mall
1 answer:
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Answer:
y>700 and 700>y>0
Explanation:
Though there is not so much information, but the fact that $700 is an average. We can work with two hypothesis at first, he first Hypothesis before the downturn the rent are over $700. And the second one, the bedroom rent are under $700.
1) Graphically, the shaded area before the downturn, represents the set of values for Rents greater than $700. So, rent (y) > 700
2) Graphically, the shaded area after the downturn, represents the set of values for Rents lesser than $700. So, rent 700 <y<0
