« 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 93 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?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Managing Supply Chain and Operations: An Integrative Approach, 2nd Edition Managing Supply Chain and Operations: An Integrative Approach, 2nd Edition
Blood and Nerve Supply of Bone Blood and Nerve Supply of Bone
As a result of a hole in the graph, which of the following functions does not have an average ... As a result of a hole in the graph, which of the following functions does not have an average ...
The original Supply and Demand graph The original Supply and Demand graph
A teaspoon of milk of magnesia contains 12.0 mg of magnesium hydroxide A teaspoon of milk of magnesia contains 12.0 mg of magnesium hydroxide
As a result of the pressure gradient in the following picture, what happens to transpiration? As a result of the pressure gradient in the following picture, what happens to transpiration?
Video: Allergic Rhinitis

For a complete list of videos, visit our video library