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3: Other things equal, which of the following goods will have the most inelastic demand? All jeans made by Levi's and sold in the United

3: Other things equal, which of the following goods will have the most inelastic demand? All jeans made by Levi's and sold in the United States All jeans made and sold by Levi's in the United States All stone washed jeans made by Levi's and sold in the United States All stone washed jeans made and sold by Levi's in the United States QUESTION 6 To reward loyal customers, a Baltimore wine shop called Angels Eat Lemons uses a declining price schedule. This price schedule has the first bottle of wine cost $50 and every bottle after costs $10. Suppose Roy's demand for bottles of wine at Angels Eat Lemons is described by Q = 10 - 0.2P (and Roy's inverse demand curve is described by P = 50 - 5Q) where P is price and Q is the quantity of wine bottles. How many bottles of wine will Roy purchase? 0 1 5 6 8 9

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