Answer Happy

Bushels demanded per month 45 50 56 61 67 Refer to the above data. Id the price in this market was $4: O the market would clear; quantity demanded would equal quantity supplied O buyers would want to purchase more wheat than is currently being supplied O farmers would not be able to sell all their wheat 4 O there would be a shortage of wheat Question 18 The basic formula for the price elasticity of demand coefficient is O percentage change in demand/percentage change in price O percentage change in quantity demanded/percentage change in price O percentage change in price/percentage change in quantity supplied Price per bushel $5 4: 1 UNA Mutual Bushels supplie per month 77 73 68 61 57 1 pts
D Question 18 The basic formula for the price elasticity of demand coefficient is O percentage change in demand/percentage change in price O percentage change in quantity demanded/percentage change in price O percentage change in price/percentage change in quantity supplied O percentage change in price/percentage change in quantity demanded Question 19 The demand of product X is perfectly inelastic if the price of X rises by O 5 percent and quantity demanded rises by 7 percent O8 percent and quantity demanded rises by 8 percent O 10 percent and quantity demanded stays the same O 7 percent and quantity demanded rises by 5 percent