May 2021 1 32 Report
College Econ question involving elasticity.?

University of Richmond Professor Erik Craft analyzed the states' pricing of vanity plates. He found that in California, where vanity plates cost $28.75, the elasticity of demand was 0.52. In Massachusetts, where vanity plates cost $50, the elasticity of demand was 3.52.

What recommendation would you have for each state to maximize revenue?

Which state's policy is least popular politically?

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