Consider the following pairs of goods.Which would you expect to have the more elastic demand? Why?
a.water or diamonds
b.insulin or nasal decongestant spray
c.food in general or breakfast cereal
d.gasoline over the course of a week or gasoline over the course of a year
e.personal computers or IBM personal computers

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The Answer of Consider the following pairs of goods.Which would you expect to have the more elastic demand? Why?
a.water or diamonds
b.insulin or nasal decongestant spray
c.food in general or breakfast cereal
d.gasoline over the course of a week or gasoline over the course of a year
e.personal computers or IBM personal computers

Consider the Following Pairs of Goods