On Most Days the Price of a Rose Is $1

question 500

Multiple Choice

On most days the price of a rose is $1 and 80 roses are purchased. On Valentine's Day the demand increases so that the price of a rose rises to $2 and 320 roses are purchased. Therefore, the price elasticity of

• A) demand for roses is about 1.8.
• B) demand for roses is about 0.55.
• C) supply of roses is about 1.8.
• D) supply of roses is about 0.55.

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Definitions:

Elite Democrats

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The tendency for a source of information to subtly support a particular perspective, opinion, or interest.