Indicate whether expect demand to be inelastic or elastic

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Reference no: EM1323006

Q. For every of the subsequent goods, indicate whether you expect demand to be inelastic or elastic also explain your reasoning: opera: elastic (many replacement entertainments, a luxury) foreign travel: elastic (local, national travel are replacements, a luxury) local telephone service: elastic (everyone has a cell phone) DVD rentals: elastic (many replacement entertainments) eggs: inelastic (no close replacements, a staple food)

Q. Maximum profit for the non discriminating monopolist mc, d, mr $4.00, 3.50, 2.00. 1.00 quantities 0, 7, 10

Reference no: EM1323006

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