Lee, J Brand, Joe's Jeans, Paper Denim & Cloth, Levi's, Wrangler, and many others are all producers of jeans. J Brand jeans sell for about $200 a pair. What would happen if J Brand priced their jeans at $220 per pair?
A) They would sell fewer jeans because demand is elastic.
B) They would not sell any jeans.
C) They would sell more jeans.
D) They would sell fewer jeans because demand is perfectly elastic.
A
You might also like to view...
Recurrent flooding in Bangladesh is causing the land area of the country to shrink. In what ways might environmental mismanagement play a role in explaining this phenomenon?
What will be an ideal response?
To attract more bidders, and more aggressive bidders, to your common-value auction
a. withhold relevant information about the value of the object b. don't allow bidders to know how others are bidding c. do not allow potential bidders to examine the object too closely d. hold oral auctions
The personality of the business leader is necessary for a firm's success
Indicate whether the statement is true or false
Activists believe that
a. discretionary changes in macroeconomic policy can help smooth the ups and downs of the business cycle. b. balancing the federal budget is of primary importance to economic stability. c. the economy's self-correcting mechanism, if not stifled by perverse policies, will prevent prolonged periods of high unemployment. d. the M1 money supply should be increased at a steady annual rate.