Business, 15.01.2020 07:31 luljrjr4130
The price of coffee rose sharply last month, while the quantity sold remained the same. five people suggest various explanations:
a. leonard: demand increased, but supply was perfectly inelastic.
b. sheldon: demand increased, but it was perfectly inelastic.
c. penny: demand increased, but supply decreased at the same time.
d. hoaward: supply decreased, but demand was unit elastic.
e. raj: supply decreased, but demand was unit elastic.
who could possibly be right? use graphs to explain your answer.
Answers: 1
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The price of coffee rose sharply last month, while the quantity sold remained the same. five people...
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