Avital and Joshua Each Have Their Own Business Selling Lemonade

question 167

Multiple Choice

Avital and Joshua each have their own business selling lemonade in front of their houses. When they each charge 25 cents per glass, their total revenues are equal. However, when they each charge 40 cents per glass, Avital's revenues are bigger than Joshua's revenues. This is because:

• A) Joshua faces a more inelastic demand curve.
• B) Avital faces a more elastic demand curve.
• C) Joshua faces a more elastic demand curve.
• D) Avital faces a less inelastic demand curve.
• E) there is a market failure.

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Definitions:

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