Question

Micro-economics

Which market has more of an elastic demand, and why?

Beethoven/Classical Music
Diamonds / Water
Budweiser/Beer
Insulin/Aspirin
Required Textbooks/Sci-fi Movies

AIDS vaccine over the next month or
AIDS vaccine over the next year

Answer 1

@Whitemonsterbunny17

Answer 2

My gueeses are:

classical music, diamonds, beer, (don't know), sci-fi movies, and (don't know)

Answer 3

Demand elasticity is a measure of how much the quantity demanded will change if another factor changes. One example is the price elasticity of demand; this measures how the quantity demanded changes with price.

Answer 4

Did you get the answer? @larryboxaplenty