Related to the Economics in Practice on page 281: The foreign visitors to the temples of Laos are typically much richer than the local Laotians. This tends to make the foreign visitors ________ buyers when it comes to ticket prices to enter the temples.
A) perfectly elastic
B) more elastic
C) less elastic
D) perfectly inelastic

Question

Quizplus · Accepted Answer

Foreign visitors, being much richer, are less sensitive to changes in ticket prices, making their demand less elastic compared to local Laotians.

Related to the Economics in Practice on Page 281: the Foreign