You have been hired by the government of kenya, which produces a lot of coffee, to examine the supply of gourmet coffee beans. suppose you discover that the price elasticity of supply is 0.85. when you share your information with the kenyan government, you explain that a price elasticity of supply is 0.85 means that:

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

Melissa buys an iphone for $240 and gets consumer surplus of $160. a. what is her willingness to pay? b. if she had bought the iphone on sale for $180, what would her consumer surplus have been?