Each pair is more price elastic

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Reference no: EM131098678

(I) Explain which of the following items in each pair is more price elastic. a. The demand for a specific brand of toothpaste and the demand for toothpaste in general. b. The demand for gasoline in the short run and the demand for gasoline in the long run. b. Explain qualitatively what the price elasticity of demand is for the following goods. Explain. For each, draw a plausible graph of the demand curve. c. Demand for a blood transfusion by an accident victim d. Demand by students for green erasers Q4 (II) Which of the following are likely to have a positive cross-price elasticity of demand: a. automobiles and oil a. graphite tennis rackets and aluminum tennis rackets b. gin and tonic c. coffee and sugar d. a Harvard education and a Yale education?

Reference no: EM131098678

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