During recessions, consumers tend to purchase more durable goods, so that sales of new durables are relatively strong

What is the ceteris paribus condition?

What will be an ideal response?

The price of an airline ticket rises as the amount of time between purchase and flight departure gets smaller. The airlines base the policy on the assumption that

a. consumers are not aware of airline prices. b. consumer demand is unrelated to prices. c. consumer demand becomes more elastic as departure time approaches. d. consumer demand becomes less elastic as departure time approaches.