Is the demand for enrollments in your college price- elastic

Reference no: EM13926253

1. Is the demand for enrollments in your college price- elastic? How could you find out?

2. If the price of gasoline doubled, how would consumption of (a) cars, (b) public transportation, and (c) in-theater movies be affected? How quickly would these adjust- ments be made?

3. Identify two goods each whose demand exhibits (a) high income elasticity, (b) low income elasticity, (c) high price elasticity, and (d) low price elasticity. What accounts for the differences in elasticity?

4. Identify two pairs each of products that are (a) substitute goods and (b) complementary goods.

Reference no: EM13926253

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