How does the equilibrium price and quantity change when here are bad rumors about a product? Are there any changes or none? Provide a graph of your answer

For a good with the following demand: Quantity Demanded Price 6000 $20 14,000 $15 (a) Calculate the price elasticity of demand using the Midpoint Method. (b) Is the demand for this good considered elastic or inelastic? (c) Do you think it is more likely that the average consumer will consider this good a necessity or a luxury? How did you determine your answer? (d) If sellers' production costs rise, will they be able to pass these higher costs onto the buyers in the form of higher prices? Explain.

The Government places a luxury tax on cars that sell for over $50k.  What would happen to the supply of Bentleys?

Organic eating is the new trend! What is the impact that supply and demand have on pricing?