Ask Question
29 November, 04:58

Two drivers-Brian and Crystal-each drive up to a gas station. Before looking at the price, each places an order. Brian says, "I'd like 10 gallons of gas." Crystal says, "I'd like $10 worth of gas."

Which of the following statements is correct? Check all that apply.

Brian's demand is perfectly inelastic.

Crystal's demand is perfectly elastic.

Crystal's demand is unit elastic.

Brian's demand is elastic.

+4
Answers (1)
  1. 29 November, 06:34
    0
    Brian's demand is perfectly inelastic.

    Crystal's demand is unit elastic.

    Explanation:

    Given that

    Brian said = 10 gallons of gas

    where, Crystal says = $10 worth of gas

    By seeing the above information, we concluded that the Brain's demand is perfectly inelastic as the demand of the gallons are fixed

    And, the crystal demand is unitary elastic as the expenditure would remain unchanged or fixed

    In addition, the perfectly inelastic is when elasticity is zero, and unitary elastic is when elasticity is equal to one
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Two drivers-Brian and Crystal-each drive up to a gas station. Before looking at the price, each places an order. Brian says, "I'd like 10 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers