Answered: Elastic goods are based on what…

Elastic goods are based on what consumers want, rather than something that they need to survive. Which of the following is an elastic good? medicine an apartment water soda pop

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Elastic goods are based on what consumers want, rather than something that they need to survive. Which of the following is an elastic good?

	medicine
	an apartment
	water
	soda pop

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