3D television and prescription Medication. Coffee sold in a cafe and electricity…

Task 2: Elascity
For each pair of items in Questions 1 and 2, determine which product is more price elastic. Explain your answer including identifying the determinant of elasticity.
Question 1. 3D television and prescription Medication. (1 mark) Maximum number of words: 60.
Question 2. Coffee sold in a cafe and electricity (assume limited excess capacity). (1 mark) Maximum number of words: 60.
In the following graph, the demand for tyres has shifted to the left because the price of cars has increased from, on average $25,000 to $35,000 per car. Use the graph to answer