- Discuss the relative price elasticity of the following products
a.Mayonnaise
b.A specific brand of mayonnaise
c. Chevrolet automobiles
d.Jaguar automobiles
e.Washing machines
f.Air travel (vacation)
g.Beer
h.Diamond rings
2. Why do you think that whenever governments (federal and state) want to increase revenues, they usually propose an increase in taxes on cigarettes and alcohol?
