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December 25, 2020
Select two of the six case studies in from attached document and write a comparison of the two agencies
December 25, 2020

Discussion Week 2 ECO 100 Is gasoline elastic unitary elastic or inelastic

Week 2 Discussion ECO 100

Elasticity Please respond to the following:

Gasoline prices drop again! Even with the expected increase in demand due to the 4th of July holiday, prices dropped again to the lowest level in about 12 years. Why? Partly because of the increase in the total world supply of oil and the U.S. expansion of shale and fracking production.

Read the following article from CNN: Gas prices are falling fast which helps explain this shift.

Is gasoline elastic, unitary elastic, or inelastic?

Choose one (1) of the following to discuss:

  1. Find information online about the price of homes in your community. Are they going up, staying the same, or going down, and why? Is the demand for housing elastic, unitary elastic, or inelastic?
  2. Automobile sales have been slower than in the past, with many companies offering rebates, discounts, and low financing. Find information online about why companies are lowering prices. Is the demand for automobiles elastic, unitary elastic, or inelastic?

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