Suppose that total expenditures for coffee reach a maximum at a price of $5 per pound. At this price, the demand for coffee is:
B.inelastic.
C.elastic.
D.perfectlyinelastic.正确答案：unitelastic.
相关题目
You enter a coffee futures contract at a futures price of $1.60 per pound.
A、You should have consulted an investment bank
B、You made the right move since your goal was to avoid paying more than $1.60 per pound
C、Bad move! You gave up the opportunity to pay a lower price
D、You should have done nothing and left it to the market
You enter a coffee futures contract at a futures price of $1.60 per pound.
A、$10,000
B、$90,000
C、Outlays are fixed at $80,000
D、Outlays are fixed at $90,000
Suppose the equilibrium price of oranges is $2.00 per pound.
A、 shortage exists and the price falls to restore equilibrium.
B、 shortage exists and the price rises to restore equilibrium.
C、 surplus exists and the price falls to restore equilibrium.
D、 surplus exists and the price rises to restore equilibrium.
Suppose the current price of a pound of steak is $12 per pound and the equilibrium price is $9 per pound
A、 shortage, so the price falls and quantity demanded increases.
B、 surplus, so the price falls and quantity demanded increases.
C、 shortage, so the price rises and quantity demanded decreases.
D、 surplus, so the price rises and quantity demanded increases.