Do you think that the demand for eggs is price elastic

Reference no: EM133440562

Question: We know that the price of eggs has been increasing in recent months.

(a) Do you think that the demand for eggs is price elastic or price inelastic (do you think that eggs are a necessary good or a luxury good). Explanation is not necessary.

(b) Given your answer to (a), do you think that the revenues of egg sellers is rising or falling.

Reference no: EM133440562

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