Discussion on the elasticities

Reference no: EM131823414

Question: 1. A lot of American action movies are quests to eliminate a villain. If in real life, villains are elastically supplied (like guns for buyback programs), should we care whether the hero captures a particular villain? Why or why not?

2. How might elasticities help to explain why people on vacation tend to spend more for food and necessities than the local population?

Reference no: EM131823414

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