Check Answ Elasticity - End of Chapter Problem In each of the following cases, is the price elasticity of supply perfectly elastic; perfectly inelastic; elastic, but not perfectly elastic; or inelastic, but not perfectly inelastic? a. An increase in demand this summer for luxury cruises b. The price of a kilowatt of electricity is the same during leads to a huge jump in the sales price of a cabin on the periods of high electricity demand as during periods of Queen Mary 2. low electricity demand. c. Fewer people want to fly during February than during d. Owners of vacation homes in Maine rent them out any other month. The airlines cancel about 10% of their during the summer. Due to the soft economy this year, a flights as ticket prices fall about 20% during this month 30% decline in the price of a vacation rental leads more than half of homeowners to occupy their vacation homes themselves during the summer. 12:21 PM 2/28/2021a. An increase in demand this summer for luxury cruises b. The price of a kilowatt of electricity is the same leads to a huge jump in the sales price of a cabin on the Queen Mary 2. during periods of high electricity demand as during periods of low electricity demand. Perfectly elastic c. Fewer people want to fly during February than during Inelastic, but not perfectly inelastic any other month. The airlines cancel about 10% of their Elastic, but not perfectly elastic flights as ticket prices fall about 20% during this month Perfectly inelastic Perfectly elastic Perfectly elastic themselves during the summer. Perfectly inelastic Inelastic, but not perfectly inelastic Elastic, but not perfectly elastic N