The estimated price elasticities of demand for the products listed in the table as "Product A" are from Table 7-5 in the text.Indicate whether the products listed as "Product B" will have a more elastic or less elastic demand than the corresponding Product A.
$\begin{array}{|l|l|l|l|}
\hline &\text { Estimated } && \text { Is Estimated Elasticity for } \
\hline &\text { Elasticity for } & &\text { ProductB More Elastic or Less } \
\text { Product A } & \text { Product A } & \text { Product B }&\text { Elastic than for Product A? }\
\hline \text { Beer } & -0.29 & \begin{array}{l}
\text { Samuel Adams } \
\text { Boston Lager }
\end{array} \
\hline \text { Chicken } & -0.37 & \begin{array}{l}
\text { Organically } \
\text { raised chicken }
\end{array} \
\hline \text { Cocaine } & -0.28 & \text { Illegal narcotics } \
\hline \text { Cigarettes } & -0.25 & \text { Marlboro Lights } \
\text { Restaurant } & & \begin{array}{l}
\text { Denny's Grand } \
\text { Slam breakfast }
\end{array} \
\hline
\end{array}$

Question

The estimated price elasticities of demand for the products listed in the table as "Product A" are from Table 7-5 in the text.Indicate whether the products listed as "Product B" will have a more elastic or less elastic demand than the corresponding Product A.
 $\begin{array}{|l|l|l|l|}
\hline &\text { Estimated } && \text { Is Estimated Elasticity for } \
\hline &\text { Elasticity for } & &\text { ProductB More Elastic or Less } \
 \text { Product A } & \text { Product A } & \text { Product B }&\text { Elastic than for Product A? }\
\hline \text { Beer } & -0.29 & \begin{array}{l}
\text { Samuel Adams } \
\text { Boston Lager }
\end{array} \
\hline \text { Chicken } & -0.37 & \begin{array}{l}
\text { Organically } \
\text { raised chicken }
\end{array} \
\hline \text { Cocaine } & -0.28 & \text { Illegal narcotics } \
\hline \text { Cigarettes } & -0.25 & \text { Marlboro Lights } \
\text { Restaurant } & & \begin{array}{l}
\text { Denny's Grand } \
\text { Slam breakfast }
\end{array} \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of The estimated price elasticities of demand for the products listed in the table as "Product A" are from Table 7-5 in the text.Indicate whether the products listed as "Product B" will have a more elastic or less elastic demand than the corresponding Product A.
 $\begin{array}{|l|l|l|l|}
\hline &\text { Estimated } && \text { Is Estimated Elasticity for } \
\hline &\text { Elasticity for } & &\text { ProductB More Elastic or Less } \
 \text { Product A } & \text { Product A } & \text { Product B }&\text { Elastic than for Product A? }\
\hline \text { Beer } & -0.29 & \begin{array}{l}
\text { Samuel Adams } \
\text { Boston Lager }
\end{array} \
\hline \text { Chicken } & -0.37 & \begin{array}{l}
\text { Organically } \
\text { raised chicken }
\end{array} \
\hline \text { Cocaine } & -0.28 & \text { Illegal narcotics } \
\hline \text { Cigarettes } & -0.25 & \text { Marlboro Lights } \
\text { Restaurant } & & \begin{array}{l}
\text { Denny's Grand } \
\text { Slam breakfast }
\end{array} \
\hline
\end{array}$

The Estimated Price Elasticities of Demand for the Products Listed