Answer: 5. If Canada begins to export furniture, it is because the domestic price of furniture: A) decline, leading to a decrease in production; imports fill the gap. B) rises, leading to a reduction in demand, the difference being exported. C) remains the same, but Canada is increasing its furniture production to meet global demand. D) rises, demand falls, production increases and the surplus is exported. E) rises, demand increases and imports fill the gap.

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Answer the following questions in your own words. Start a new thread while replying. 1. What are the determinants of price elasticity of demand? Explain the determinants. 2. What is the difference between inelastic demand and elastic demand? Provide an example of each from real life. 3. Refer to the graph below: Price 22 20 + 18 +- 16 + 14 B 12 10 + 4 Demand +++ 100 200 300 400 500 600 700 800 900 Buaxtity From the graph above calculate: a. Price elasticity of demand from point A to point B (use the mid-point method). Is it an elastic situation or an inelastic situation? b. Price elasticity of demand from point B to point C (use the mid-point method). Is it an elastic situation or an inelastic situation?

To which city are people from Barbados more likely to migrate?

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What is the Tuition Prepayment Option?

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