Max is shopping for a new winter jacket. The salesperson explains that two coats have identical features-the Columbia jacket that costs $120, and the Burton jacket that costs $300. Max buys the Burton jacket. Burton jackets may be a good example of:

Other things equal, the higher the deviations from purchasing power, the lesser will be the arbitrage opportunities

a. True b. False Indicate whether the statement is true or false

Refer to the information provided in Figure 5.1 below to answer the question(s) that follow. Figure 5.1Refer to Figure 5.1. The price elasticity of demand for tickets

A. is infinity. B. varies at every point along the demand curve. C. is equal to zero. D. is equal to 1.