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Pick two of the incorrect answers to multiple choice question #7 [NHL Hockey problem] and 6. Demand is more elastic: II. Written Answer a. in the short run than in the long run explain, in words, why those answers are incorrect . for necessities than for luxuries C . for food than for hamburgers d. for goods with many substitutes than for goods with only a few 7. Some NHL hockey teams have struggled with attendance (even before the Coronavirus outbreak). It has been suggested that if these NHL hockey teams would lower ticket prices , they could increase revenue from ticket sales. This suggestion is based on which of the following assumptions? a. there are no-good substitutes for NHL hockey demand for NHL hockey is price elastic demand for NHL hockey is price inelastic demand for NHL hockey is unitary elastic Exhibit 5-19 Price per unit $6 Consider Exhibit 5-19. Between the price of $5 and $6, which supply curve is most elastic and which is least elastic? S1 is most elastic; $2 is least elastic SI is most elastic; $3 is least elastic S3 is most elastic; S, is least elastic d. S3 is most elastic; $2 is least elastic S2 is most elastic; $3 is least elastic