When a football manufacturer prices its footballs at $120 each, it has 10 footballs in stock at any given time. However, when the footballs are priced at $144 each, the manufacturer is left with 16 footballs in stock at any given time. What is the price elasticity of supply of the football?

If the Chinese Yuan devalues against the US dollar, then

a. Both the US exporters and Chinese exporters would benefit b. The US exporters would benefit while the Chinese exporters would be hurt c. The US exporters would be hurt while the Chinese exporters would benefit d. Both the US exporters and Chinese exporters would be hurt

If a revenue-maximizing firm is told that the price elasticity of demand is equal to one, it should:

a. raise prices 1 percent. b. lower prices 1 percent. c. raise prices until the elasticity becomes very high. d. keep the price where it is. e. lower prices until the elasticity becomes very high.