The demand for spring break vacations is _________________ than is the demand for textbooks because ________________.
A) less price elastic; vacations have more available substitutes.
B) more price elastic; vacations have less available substitutes.
C) less price elastic; vacations are more of a luxury.
D) more price elastic; vacations are more of a luxury.

Question

Quizplus · Accepted Answer

The demand for vacations is more price elastic because they are considered a luxury, meaning consumers are more sensitive to price changes compared to necessities like textbooks.

The Demand for Spring Break Vacations Is _________________ Than Is