Question: ( ? ) The demand for Airbnb rooms has not only shifted to the right, but it has also become relatively elastic since 2 0

(?)

The demand for Airbnb rooms has not only shifted to the right, but it has also become relatively

elastic since

2000 .

Comparing the market for Airbnb rentals for the two years is complicated by the fact that the graph depicts three changes: total demand increases, total supply increases, and the slope of the demand curve changes. To isolate the effect of elasticity on deadweight loss and government revenue, consider the following scenario:

(?) The demand for Airbnb rooms has not only shifted to

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