Q5 (2pt). Which statement is the least appropriate regarding the price elasticity of demand? PRODUCT MEAN ELASTICITY Airline travel (First class) Broadband Commuter parking Airline travel (Discount) m (A) The slope in a linear demand inction is not a good measure for price sensitivity because the slope can change with the scale of price, so it is only meaningful when comparing the price sensitivity at different price points. (B) Consumers are price insensitive for commuter parking because when consumers buy the best parking space, they usually commit to use it for a certain period, and then, it is difcult to change their daily routine. (C) In the airline industry, rst-class demand is less elastic than discount ticket demand because business travellers focus more on service quality than price. (D) CocaCola demand is very elastic because it has stronger brand power, at least partially, attributable to its extensive advertising campaigns, than many of its competitors