The decline in the value of the dollar from 1985 to 1988 was beneficial to
a. American tourists travelling to Europe.
b. firms importing goods into America.
c. American exporting businesses.
d. foreigners holding U.S. government bonds.
c
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Specialty chocolate bars with a high cocoa content have been drawing a lot of attention in gourmet circles in 2008 but the price of cocoa beans has increased more than 44 percent in this time period
In response to the increase in the price of cocoa beans, Rogue Chocolatier has increased the price of their gourmet chocolate bars by 20 percent. Rogue observes the quantity of their bars sold decreased by 15 percent. Based on this news clip, what does the price elasticity of demand for gourmet chocolate bars equal? A) 0.75 B) 1.25 C) 1 D) 0.66
Assume that coal is a normal good. If the price of coal increases and the quantity sold increases, which of the following is consistent with these observations?
What will be an ideal response?