Which of the following would shift the supply of Green Bay Packers football jerseys to the left?
a. The Green Bay Packers make it to the Super Bowl.
b. The price of the jerseys increases by $15.
c. The technology of sewing machines use to make the jerseys improves.
d. The cost of the fabric used to make the jerseys increases.
d
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Which of the following CORRECTLY describes the above figure?
A) There is no relationship between x and y. B) There is a positive relationship between x and y. C) There is a negative relationship between x and y. D) None of the above answers are correct.
If the price elasticity of demand was 4.0 (in absolute terms), a 10% off sale would lead to:
a. a 40% increase in purchases by customers. b. a 40% decrease in purchases by customers. c. a 2.5% increase in purchases by customers. d. a 2.5% decrease in purchases by customers.