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Gelneren [198K]
3 years ago
14

Sort the following statements based on whether demand is relatively elastic or relatively inelastic. There are four pairs of sta

tements, each pair relating to a different determinant of demand elasticity.
SAT
1 answer:
ladessa [460]3 years ago
6 0

The matching of the demand as relatively elastic or relatively inelastic can be done as;

  • Klaus' demand for orange juice (Relatively elastic)
  • Amanda's annual demand for coffee(Relatively elastic)
  • Jackson's demand for mystery novels(Relatively inelastic)
  • Hermy's demand for Minute Maid orange juice(Relatively inelastic)
  • Olivia's daily demand for Starbucks latte(Relatively inelastic)
  • Stephen spends a very little part of his income on soda(Relatively elastic)
  • Xavier's demand for his economics textbook(Relatively inelastic)

<h3>What is Elasticity of demand?</h3>

Elasticity of demand  can be regarded as the variation on the concept of demand.

It should be noted that elastic demand involves change in quantity demanded as a result of  change in price.

Learn more about Elasticity of demand

brainly.com/question/26576823

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