The price of coffee rose sharply last month, while the quantity sold remained the same. Each of
Question:
The price of coffee rose sharply last month, while the quantity sold remained the same. Each of five people suggests an explanation:
Tom: Demand increased, but supply was perfectly inelastic.
Dick: Demand increased, but it was perfectly inelastic.
Harry: Demand increased, but supply decreased at the same time.
Larry: Supply decreased, but demand was unit elastic.
Mary: Supply decreased, but demand was perfectly inelastic.
Who could possibly be right?
a Tom, Dick and Harry b Tom, Dick and Mary c Tom, Harry and Mary d Dick, Harry and Larry
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Related Book For 
![Principles Of Microeconomics [Australia And New Zealand Edition]](https://dsd5zvtm8ll6.cloudfront.net/si.question.images/book_images/672464107669a_18135.jpg)
Principles Of Microeconomics [Australia And New Zealand Edition]
ISBN: 9781337408066
6th Edition
Authors: Joshua Gans, Stephen King, Martin Byford, N. Gregory Mankiw
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