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Author Question: Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals ... (Read 199 times)

KimWrice

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on: Jun 29, 2018
Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee falls from 6 to 4, the market quantity demanded would
 
  A) increase by 61 lbs. B) increase by 110 lbs.
  C) increase by 26 lbs. D) decrease by 89 lbs.

Question 2

Assume that when the price of cantaloupes is 2.50 the demand for cantaloupes is unit-elastic, and that the demand curve for cantaloupes is linear and downward sloping.
 
  If firms lower the price of cantaloupes to 2.00 which of the following statements can be made regarding the price elasticity of demand for cantaloupes?
  A) The demand for cantaloupes at 2.00 must be elastic.
  B) The demand for cantaloupes at 2.00 must be unit elastic.
  C) We cannot determine whether the demand for cantaloupes is elastic or inelastic without knowing what the quantity demanded is at each price.
  D) The demand for cantaloupes at 2.00 must be inelastic.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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asdfghjkl;

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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KimWrice

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Reply 2 on: Jun 29, 2018
:D TYSM

strudel15

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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