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Author Question: At a price of 20, Daphne sells 35 hand-painted dog collars per week. When she raised her price to ... (Read 138 times)

lb_gilbert

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on: Jun 29, 2018
At a price of 20, Daphne sells 35 hand-painted dog collars per week. When she raised her price to 25, she sold 28 per week. Based on this information, the demand for her dog collars is
 
  A) perfectly elastic. B) inelastic. C) elastic. D) unit elastic.

Question 2

Aggregate supply increases when ________.
 
  A. the price level rises
  B. the money wage rate falls
  C. consumption increases
  D. the money price of oil increases


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dajones82

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

D

Answer to Question 2

B A fall in the money wage rate increases aggregate supply and shifts the AS curve rightward.


lb_gilbert

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

recede

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Reply 3 on: Yesterday
Excellent

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