To understand how the price of a good is determined in a free market, one must account for the desires of:

Demand for movie rentals is highly elastic. What will happen if a video store raises the price of a rental?

(A) It could possibly gain or lose revenue. (B) It would see no change in revenue. (C) It will gain revenue. (D) It will lose revenue.

The aggregate supply curve reflects the relationship between the price:

a. of a particular good and the quantity supplied by all firms producing that good. b. of a particular good and the quantity supplied by the aggregate economy. c. level and the quantity supplied of all goods in the economy. d. level and the quantity of all goods purchased in the economy.