In each of the following examples, choose whether you would expect demand to be elastic or inelastic. Choose "elastic demand" if you think buyers will be responsive to price change, buying more if price goes down and buying less if the price goes up. Choose "inelastic demand" if you think that buyers will buy about the same if the price goes up or down. 1) An unconscious bleeding man is brought to a hospital emergency room. ____ Elastic demand ____ Inelastic demand Why? 2) A patient is given a prescription for a drug to control high blood pressure. The patient's insurance doesn't cover drugs, so the patient must pay out of pocket. ____ Elastic demand ____ Inelastic demand Why? 3) A hospital in-patient has insurance that will pay all charges. What would the demand be like for nurse-administered Darvon, pain-reliever? ____ Elastic demand ____ Inelastic demand Why