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Question
From the accompanying table, we would expect that, for recreational skaters, the price elasticity of demand for ice skates between $10 and $20 to be ________ than that of hockey players because ________.
| Price of Ice Skates | Quantity Demanded (hockey players) | Quantity Demanded (recreational skaters) |
| $10 | 95 | 70 |
| $20 | 85 | 50 |
| $40 | 75 | 35 |
| $50 | 65 | 45 |
| $60 | 60 | 50 |
a. more elastic; ice skates are a normal good
b. less elastic; ice skates are an inferior good
c. the same; they both skate
d. more elastic; recreational skaters can substitute other activities
e. less elastic; hockey players need skates
Answer
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