The estimated price elasticities of demand for the products listed in the table as "Product A" are from Table 6-2 in the text
Indicate whether the products listed as "Product B" will have a more elastic or less elastic demand than the corresponding Product A.
Product A Estimated Elasticity for Product A Product B Is Estimated Elasticity for Product B More Elastic or Less Elastic than for Product A?
Beer -0.29 Samuel Adams Boston Lager
Chicken -0.37 Organically raised chicken
Cocaine -0.28 Illegal narcotics
Cigarettes -0.25 Marlboro Lights
Restaurant meals -0.67 Denny's Grand Slam breakfast
Product A Estimated Elasticity for Product A Product B Is Estimated Elasticity for Product B More Elastic or Less Elastic than for Product A?
Beer -0.29 Samuel Adams Boston Lager More elastic
Chicken -0.37 Organically raised chicken More elastic
Cocaine -0.28 Illegal narcotics Less elastic
Cigarettes -0.25 Marlboro Lights More elastic
Restaurant meals -0.67 Denny's Grand Slam breakfast More elastic
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