A Local Store Noticed That When It Increased the Price

question 9

Multiple Choice

A local store noticed that when it increased the price of milk from $2.50 to $3.50 per gallon,it sold the same amount of milk per week (165 gallons) .Since everything else remained the same,we would say the

• A)demand for milk is perfectly elastic
• B)demand for milk is elastic
• C)demand for milk is perfectly inelastic
• D)demand for milk is unitary elastic
• E)law of supply does not apply in this situation

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Definitions:

Dysphasia

A language disorder marked by impairment in the ability to produce or comprehend spoken or written language due to brain injury.

Jugular Vein

A large vein in the neck that carries blood from the head to the heart.

Bruise

An injury appearing as a purple or dark area on the skin, caused by broken blood vessels under the skin without the skin being broken.

Fractured

Having a break or crack in a bone or hard tissue.