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A tax on the sellers of coffee will increase the price of coffee paid by buyers,
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- I need help with this Supply and Demand questionSelect the change that would increase price and decrease quantity. (sketch the graphs if you need to see the changes) Increase in minimum wage New technology aids production New businesses are opening More people demand the productIf the demand for the product/service you are selling is inelastic, would you increase the price? Why or why not?
- The current price for a good is $20, and 90 units are demanded at that price. The price elasticity of demand for the good is - 2. When the price of the good drops by 5 percent to $19, consumer surplus increases by $. (Enter your response to the nearest penny.)The government imposes a nationwide lockdown due to pandemic. How would this affect the market and equilibrium price of gasoline?When the price is 6 the quantity demanded 2 and when the price 5 then quantity demanded 4, the price elasticity of demand would be,
