If the elasticity of demand for peaches is 1.76 and the elasticity of demand for apples is 1.59, then consumers are
A) more sensitive to a change in the price of peaches than they are to a change in the price of apples.
B) less sensitive to a change in the price of peaches than they are to a change in the price of apples.
C) more sensitive to a change in the quantity of peaches than they are to a change in the quantity of apples.
D) less sensitive to a change in the quantity of peaches than they are to a change in the quantity of apples.
Question 2
Bill Bonecrusher graduates from college with a choice of playing professional football at 2 million a year or coaching for 50,000 a year.
He decides to play football, but eight years later, though he could continue to play football at 2 million a year, he quits football to make movies for 3 million a year. His opportunity cost of playing football at graduation was ________ and eight years later the opportunity cost of making movies was ________. A) 50,000; 2 million
B) 2 million; 2 million
C) 2 million; 3 million
D) 50,000; 50,000
Paul Cézanne: Green Apples, c.1873
Attention and memory are in demand during circle time.
Growth in the demand for oil from the developing world
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
The demand for cheap coal to generate electrical power is rising
Red and Green Apples