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Author Question: When the price of oranges increases from 4 to 6 per bag, the quantity demanded of oranges decreases ... (Read 36 times)

Marty

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on: Jun 29, 2018
When the price of oranges increases from 4 to 6 per bag, the quantity demanded of oranges decreases from 800 bags to 700 bags. The price elasticity of demand over this price range is equal to
 
  A) 3.
  B) 3/7 or 0.4286.
  C) 1/3 or 0.3333.
  D) 1/4 or 0.25.

Question 2

With an increase in the capital stock, the short-run aggregate supply curve
 
  A) remains as it is.
  B) shifts rightward.
  C) shifts leftward.
  D) becomes steeper.


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CharlieArnold

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

C

Answer to Question 2

B


Marty

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

lindahyatt42

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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