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. Explain why for each example. 4) A family has a high-deductible health insurance policy. The effect is that the family pays for primary care office visits out of pocket. Now, one of their children has an earache. What would their demand be like for an office visit to get this checked out? ____ Elastic demand ____ Inelastic demand Why? 5) A liquor store, especially its liquor and tobacco products. ____ Elastic demand ____ Inelastic demand Why? 6) A travel agency ____ Elastic demand ____ Inelastic demand Why? 7) Fine dining restaurant ____ Elastic demand ____ Inelastic demand Why