a) All prices in the economy have (Click to select) different degrees of flexibility equal flexibility unequal flexibility.

b) Which item in the below table shows the largest amount of short-run flexibility?

(Click to select) Coin-operated laundry machines Taxi fare Beer Gasoline Milk Newspapers .

c) Which item in the below table shows the largest price inflexibility?

(Click to select) Coin-operated laundry machines Magazines Milk Airline tickets Veterinary services Electricity .

Average Number of Months between Price Changes for Selected Goods and Services Item Months Coin-operated laundry machines 46.4 Newspapers 29.9 Haircuts 25.5 Taxi fare 19.7 Veterinary services 14.9 Magazines 11.2 Computer software 5.5 Beer 4.3 Microwave ovens 3.0 Milk 2.4 Electricity 1.8 Airline tickets 1.0 Gasoline 0.6