If at a price of $24, Octavia sells 36 home-grown orchids and at $30 she sells 24 home-grown orchids, the demand for her orchids is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.
Answer: A
You might also like to view...
Spending money on a new car instead of a used car when you are on a fixed budget is an example of
A) a bad thing to do because you run out of money. B) living on the edge. C) the incursion of an opportunity cost. D) isolating variables.
Refer to Table 29-1. Use the information in the table to prepare a balance of payments account and find the value of the statistical discrepancy. Assume that the balance on the capital account is zero
What will be an ideal response?
How is the Agreement on Textiles and Clothing impacting trade today?
What will be an ideal response?
What is the role of the "discount window" in preventing financial crises? How was it used during the financial crisis of 2007-2009?
What will be an ideal response?