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The price of coffee fell sharply last month, while the quantity sold remained the same. Five people suggest various explanations: Van: Demand decreased, but it
The price of coffee fell sharply last month, while the quantity sold remained the same. Five people suggest various explanations:
Van: Demand decreased, but it was perfectly inelastic.
Amy: Demand decreased, but supply was perfectly inelastic.
Carlos: Demand decreased, but supply increased at the same time.
Deborah: Supply increased, but demand was perfectly inelastic.
Felix: Supply increased, but demand was unit elastic.
Who could possibly be right? Check all that apply.
Van
Amy
Carlos
Deborah
Felix
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