Jacob Johnson
9-11–17
17A. Elasticity changed the demand for snail mail because chooses could use email which is
quicker and cheaper. The Postal Service was not pleased with these results because they lost
the demand of people using their service.
17B. The demand for aspirin is currently at prices that are prevailing if the demand became
elasticity of the demand became five times higher than people’s behavior would change little
and probably would still pay for it. If for say the price jumped up to fifty times as high then
people would look for substitutes.
17C. The demand for prescription drugs is inelastic because no matter what if a patient needs
to get better they will need that drug no matter the price in my agreement yes, the
manufacture can set the price to what they want.
17D. iTunes has made the price elastic on CDs because the price has changed significantly that
now consumers can just download music and this substitutes the use CDs. iTunes is much
better which is way more efficient then CDs.
