Compared to the demand for coffee, the market demand for French Roast coffee is likely to be
A. more elastic.
B. more inelastic.
C. perfectly elastic.
D. perfectly inelastic.
Answer: A
You might also like to view...
The tax treatment of corporate profit means that corporations
A. cannot profitably issue common stock. B. choose investment opportunities more efficiently than do other types of firms. C. limit the things in which corporations can invest. D. can generally avoid paying federal taxes but not state taxes.
The effect of a change in the price of tea on the quantity of coffee demanded is measured by the
a. price elasticity of demand b. substitute elasticity of demand c. cross-price elasticity of demand d. income elasticity of demand e. alternative elasticity of demand
Increasing environmental awareness in the United States has occurred with increasing GDP, which has reduced concerns about basic needs
a. True b. False Indicate whether the statement is true or false
If the government set a price ceiling of 25 cents for a loaf of bread, the most likely consequence would be
A. a surplus of bread. B. no one would go hungry. C. most Americans would put on weight. D. a shortage of bread.