The Demand For Automobiles Is Likely To Be: A. More Elastic Than The Demand For Honda Accords B. Of The Same Elasticity As The Demand For Honda Accords Less Elastic Than The Demand For Honda Accords D. Perfectly Inelastic Because Autos Are A Necessity A. Price Elasticity Of Demand Is Most Likely To Be: Lower In The Long Run Than In The Short Run For Most

 

 

The demand for automobiles is likely to be: a. b. C. d. more elastic than the demand for Honda Accords of the same elasticity as the demand for Honda Accords less elastic than the demand for Honda Accords perfectly inelastic because autos are a necessity Price elasticity of demand is most likely to be: a. lower in the long run than in the short run for most goods and services b. higher for Tylenol than for insulin for consumers who are type 1 diabetics (require insulin for treatment) C. higher for table salt than for automobiles d. lower for coca cola brand coke than for milk (homogenized, almond, cashew, powered, soy)