Recall the Application About the Price of Vanity License Plates

question 42

Multiple Choice

Recall the Application about the price of vanity license plates in Virginia to answer the following question(s) .
-Recall the Application. Which of the following is a reason for the state of Virginia to increase its revenue while the price for vanity plates increases?

• A) The demand for vanity plates in Virginia is inelastic.
• B) The demand for vanity plates in Virginia is elastic.
• C) The demand for vanity plates in Virginia is equal to 1.
• D) There is insufficient information to draw a conclusion.

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