Petrol has inelastic price elasticity of demand in both the short and long run but chinaware has elastic price elasticity of demand in the both short and long run because:

S Principles of Ec x EC 200 - Answx micro quiz 3.ts x Homework He x G Petrol has inel x * Ch 5 multiplex holmes.blackboard.com/ultra/courses/_4719_1/cl/outline $2 Force Completion I his test can be saved and resumed at any point until the time has expired. I he timer will continue to run it you leave the test. This test does not allow backtracking. Changes to the answer after submission are prohibited. Your answers are saved automatically . Remaining Time: 49 minutes, 54 seconds. Question Completion Status: > Moving to the next question prevents changes to this answer. Question 3 of 20 Question 3 0.5 points Save Answe Petrol has inelastic price elasticity of demand in both the short and long run but chinaware has elastic price elasticity of demand in the both short and long run because: petrol is more important than chinaware of petrol is a necessity and chinaware is a luxury. petrol cannot be compared to chinaware. petrol is a luxury and chinaware is a necessity. Question a or 20 Moving to the next question prevents changes to this answer. Type here to search