Nonjabulo thinks that McDonald’s hamburgers are the best – much better than Steers’ – while Anne cannot tell the difference:
a) Anne’s demand for McDonald’s hamburgers is likely to be more price elastic than Nonjabulo’s.
b) Nonjabulo’s demand for McDonald’s hamburgers is likely to be more price elastic than Anne’s.
c) Anne’s demand for all hamburgers is less price elastic than Nonjabulo’s.
d) Nonjabulo’s demand for all hamburgers is more price elastic than Anne’s
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Expert's answer
2018-04-11T17:12:11-0400
If Nonjabulo thinks that McDonald’s hamburgers are the best – much better than Steers’ – while Anne cannot tell the difference, then: a) Anne’s demand for McDonald’s hamburgers is likely to be more price elastic than Nonjabulo’s.
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