« previous next »

Author Question: The price of milk rises, so the supply of ice cream decreases. there is, as a result a 5 percent ... (Read 101 times)

colton

  • Hero Member
  • *****
  • Posts: 627
on: Jun 29, 2018
The price of milk rises, so the supply of ice cream decreases. there is, as a result a 5 percent increase in the price of ice cream and a 3 percent decrease in the quantity of ice cream sold.
 
  The revenue received by ice cream suppliers will ________ because the demand for ice cream is ________. A) decrease; price inelastic
  B) increase; price inelastic
  C) increase; price elastic
  D) decrease; price elastic

Question 2

The AS/AD model studies the relationship between
 
  A) the price level and unemployment.
  B) the price level and real GDP.
  C) unemployment and real GDP.
  D) nominal GDP and inflation.


CAPTAINAMERICA

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Two transesterification reactions that result in splicing of exons in pre-mRNA Two transesterification reactions that result in splicing of exons in pre-mRNA
Mango with whipped cream Mango with whipped cream
Women can express breast milk using a breast pump Women can express breast milk using a breast pump
Disitive Time For Milk Products Disitive Time For Milk Products
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Misfolding or refolding of some proteins can result in disease Misfolding or refolding of some proteins can result in disease
Video: Frequency of stimulation and force (Recruitment of motor units and force)

For a complete list of videos, visit our video library