Multiple Choice
Suppose that technological breakthroughs make jet packs affordable, convenient, and safe for personal transportation. The demand for automobiles would become _____ the consumer surplus from automobiles.
A) more price elastic, decreasing
B) more price inelastic, increasing
C) more price inelastic, decreasing
D) perfectly inelastic, increasing
Correct Answer:
Verified
Correct Answer:
Verified
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