Which of the Following Would Most Likely Have a Price

question 81

Multiple Choice

Which of the following would most likely have a price elasticity coefficient greater than 1?

• A)Cigarettes.
• B)Gasoline in the short run.
• C)Electricity.
• D)Airline travel in the long run.

---

Definitions:

Rensis Likert

A social psychologist who developed the Likert Scale for measuring attitudes and is known for his research on management styles.

Focal Point

The center of interest or activity; a point that attracts attention or serves as a reference for surrounding elements.

Systems Level

A perspective or approach that considers the broader, interconnected components of a whole rather than focusing on individual parts.

Adequate Funding

Sufficient financial resources provided to fully support or complete a project, program, or initiative without monetary constraints.