If at a Price of $50, Ghani Sells 20 Hand-Made

question 137

Multiple Choice

If at a price of $50, Ghani sells 20 hand-made leather cell-phone covers but at a price of $60, zero units are sold.Based on this information, the demand for his cell-phone covers is

• A)elastic or perfectly inelastic.
• B)elastic or perfectly elastic.
• C)unit elastic.
• D)perfectly inelastic.

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Definitions:

Nicaragua

A country in Central America known for its dramatic terrain of lakes, volcanoes, and beaches.

Carter Administration

The executive period of Jimmy Carter, the 39th President of the United States, from 1977 to 1981, known for its emphasis on human rights and environmental issues.

Circumstances

The conditions surrounding and affecting the way in which events occur.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies from the end of World War II in 1945 until the dissolution of the Soviet Union in 1991, characterized by threats, propaganda, and other measures short of open warfare.