If OPEC increases its price of oil, and still the demand for oil ...

[bio_gurl]

If OPEC increases its price of oil, and still the demand for oil decreases by a very small amount, we can conclude that the demand for oil is
 
  A) relatively elastic.
  B) relatively inelastic.
  C) perfectly elastic.
  D) perfectly inelastic.

Question 2

Joey's Lawncutting Service rents office space from Joey's dad for 300 per month. Joey's dad is thinking of increasing the rent to 400 per month. As a result Joey's marginal cost of cutting grass will
 
  A) increase by 100 divided by the amount of grass cut.
  B) increase by 100.
  C) decrease by 100.
  D) not change.

[sokh]

Answer to Question 1

B

Answer to Question 2

D

[bio_gurl]

TYSM

[shailee]

Excellent