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 root beer, and B is carbonated beverages.
B) A is bicycles, and B is mopeds.
C) A is airline tickets in the short run, and B is airline tickets in the long run.
D) A is gourmet coffee, and B is dentist's visits.

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 root beer, and B is carbonated beverages. 
B) A is bicycles, and B is mopeds. 
C) A is airline tickets in the short run, and B is airline tickets in the long run. 
D) A is gourmet coffee, and B is dentist's visits.

Quizplus · Accepted Answer

Elasticity tends to be higher in the long run than in the short run, which is consistent with airline tickets being more elastic in the long run.

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