The demand for autos is likely to be:
A. less elastic than the demand for Honda Accords.
B. more elastic than the demand for Honda Accords.
C. of the same elasticity as the demand for Honda Accords.
D. perfectly inelastic.
Answer:A
The demand for autos is likely to be:
A. less elastic than the demand for Honda Accords. B. more elastic than the demand for Honda Accords. C. of the same elasticity as the demand for Honda Accords. D. perfectly inelastic.