If the supply curve of a product changes so that sellers are now willing to sell 2 additional units at any given price, the supply curve will
A) shift leftward by 2 units.
B) shift rightward by 2 units.
C) shift vertically up by 2 units.
D) shift vertically down by 2 units.
B
Economics
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If the price elasticity of demand for a good is 2, then a 10 percent decrease in the quantity demanded must be the result of
a. a 0.2 percent increase in the price. b. a 2.5 percent increase in the price. c. a 5 percent increase in the price. d. a 20 percent increase in the price.
Economics
If the cross-price elasticity of demand between two goods is negative, what is the relationship between the two goods?
Economics