This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When Monica's Catering lowered the price of catered meals from 60 per person to 20 per person, the ... (Read 116 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
on: Jun 29, 2018
When Monica's Catering lowered the price of catered meals from 60 per person to 20 per person, the quantity demanded doubled from 500 meals to 1,000 meals.
 
  You can conclude that the demand for Monica's catered meals over the price range of 20 to 60 is A) upward sloping.
  B) unit elastic.
  C) elastic.
  D) inelastic.

Question 2

Epsilon is a country whose unit of currency is the omega. New information leads people to expect that the omega will appreciate next year.
 
  To keep the foreign exchange value of the omega fairly steady, the Bank of Epsilon will ________ enough omegas on the foreign exchange market so that the ________ omegas will ________. A) buy; demand for; increase
  B) sell; supply of; increase
  C) buy; demand for; decrease
  D) buy; supply of; decrease


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SomethingSomething

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


WhattoUnderstand

  • Member
  • Posts: 517
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

sarah_brady415

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

An example of color blindness test. A person with red-green color blindness would not be able to dis An example of color blindness test. A person with red-green color blindness would not be able to dis
(A) Scratch test; patient is exposed to allergens through a light scratch on the skin; (B) Positive (A) Scratch test; patient is exposed to allergens through a light scratch on the skin; (B) Positive
Should School Meals Align with the Dietary Guidelines for Americans? Should School Meals Align with the Dietary Guidelines for Americans?
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Facilitated Diffusion - Glucose transport

For a complete list of videos, visit our video library