Table 5-1

-Refer to Table 5-1.Which of the following is consistent with the elasticities given in Table 5-2?
A) A is grapes, and B is fruit.
B) A is T-shirts, and B is socks.
C) A is train tickets before cars were invented, and B is train tickets after cars were invented.
D) A is diamond necklaces, and B is beds.

Question

Table 5-1
 
-Refer to Table 5-1.Which of the following is consistent with the elasticities given in Table 5-2?
A) A is grapes, and B is fruit. 
B) A is T-shirts, and B is socks. 
C) A is train tickets before cars were invented, and B is train tickets after cars were invented. 
D) A is diamond necklaces, and B is beds.

Quizplus · Accepted Answer

Table 5-2 shows that the elasticity of demand for train tickets decreased after cars were invented (-0.5 vs. -1.5), which is consistent with A being train tickets before cars were invented and B being train tickets after cars were invented. The other answer choices do not have consistent elasticity values with Table 5-2.

Table 5-1 -Refer to Table 5-1.Which of the Following Is Consistent with Following