If the price of potatoes is reduced, consumers likely:
a. significantly more potatoes
b. significantly fewer potatoes
c. roughly the same quantity of potatoes
d. an unknown quantity of potatoes; in this situation, consumers' actions cannot be predicted
c
Economics
You might also like to view...
If the coefficient of elasticity is 25,
A) demand is 25%. B) demand is about to change for the better. C) demand is very elastic. D) demand is very inelastic. E) the law of demand hardly applies.
Economics
A sudden lack of goods:
a. supply shock b. shortage c. excess supply d. disequilibrium e. search costs
Economics