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Author Question: When the Blue Ocean Surfboard Company lowered the price of surfboards by 20, it sold 10 more ... (Read 44 times)

bobthebuilder

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on: Jun 30, 2018
When the Blue Ocean Surfboard Company lowered the price of surfboards by 20, it sold 10 more surfboards. The price elasticity of demand for surfboards is:
 a. 2.
 b. 1/2.
  c. 1.
 d. 20.

Question 2

A combination of an increase in the discount rate and an open market sale of government securities by the Fed would:
 a. increase the money supply.
 b. decrease the money supply.
 c. leave the money supply unchanged.
 d. have an indeterminate effect on the money supply.


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ryansturges

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


bobthebuilder

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Reply 2 on: Jun 30, 2018
Excellent

mochi09

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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