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14.Suppose the price elasticity of demand is -1.3 for Good A and -2.1 for Good B. Which of the following is consistent with these demand
14.Suppose the price elasticity of demand is -1.3 for Good A and -2.1 for Good B. Which of the following is consistent with these demand elasticities?
a. Good A:Grapes
Good B: Fruit
b. Good A:Milk over the next year
Good B: Milk over the next month
c. Good A: Diamond necklaces
Good B:Beds
d. Good A: Train tickets prior to the invention of automobiles
Good B: Train tickets following the invention of automobiles
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