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Author Question: If at a price of 24, Octavia sells 36 home-grown orchids and at 30 she sells 24 home-grown orchids, ... (Read 161 times)

dollx

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on: Jun 29, 2018
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) inelastic. B) unit elastic. C) perfectly elastic. D) elastic.

Question 2

Refer to Table 3-2. The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market. If the price of caviar rises from 65 to 75, the market quantity demanded would
 
  A) decrease by 52 oz. B) decrease by 36 oz. C) increase by 36 oz. D) increase by 52 oz.


Moriaki

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


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