In the short-run, we assume that the money prices of goods and services are

Suppose the quantity supplied of computers increases from 2 million to 4 million units as the price of a computer increases from $600 to $700. What does the price elasticity of supply equal?

What will be an ideal response?

Caroline Jahn has a professional degree and is 51 years old. Bob Rubate also has a professional degree and is 29 years old. On average, Caroline most likely earns

a. 75 percent less than Bob b. 7 percent less than Bob c. 75 percent more than Bob d. 7 percent more than Bob e. the same amount as Bob