Ask Question
BusinessBusiness
5 June, 07:07

The price of coffee rose sharply last month, while the quantity sold remained the same. five people suggest various explanations:

+4
Answers (2)
  1. 5 June, 09:06
    0
    The suggestions of the explanations were not included however, if the price of coffee increased significantly but the quantity sold remained the same, the demand for coffee did not change with the increase in price. Those who want to purchase coffee were not affected by the increase of price. Demand increased but the supply was perfectly inelastic.
  2. 5 June, 09:47
    0
    The price of coffee rose sharply last month, while the quantity sold remained the same can be a result of several situations and therefor there are several explanations that are possible:

    Demand increased, but supply was perfectly inelastic.

    Demand increased, but supply decreased at the same time.

    Supply decreased, but demand was perfectly inelastic.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The price of coffee rose sharply last month, while the quantity sold remained the same. five people suggest various explanations: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Materials used by the Instrument Division of Ziegler Inc. are currently purchased from outside suppliers at a cost of $1,350 per unit. However, the same materials are available from the Components Division.
Answers (1)
Lena borrows from mac and nicol, using the same collateral for both loans. only nicol has a perfected security interest. lena defaults on both loans. the party with first rights to the collateral is
Answers (1)
Devers Corporation issued $400,000 of 6% bonds on May 1, 2020. The bonds were dated January 1, 2020, and mature January 1, 2023, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest.
Answers (1)
The money multiplier process also works in reverse when a loan is repaid and the amount of money that is destroyed is equal to the loan repayment times the money multiplier. A. TrueB. False
Answers (1)
What happens when there are only a few large customers in the market?
Answers (1)
New Questions in Business
The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers $ 470,000 Interest on notes receivable 10,500 Collection of notes receivable 52,000 Sale of investments 32,000 Issuance of
Answers (1)
Which of the following statements describes an element of process costing systems? A. Total conversion costs include direct labor and manufacturing overhead costs included in beginning inventory and added to production during the period. B.
Answers (1)
The liquidity premium on a us treasury debt security is normally considered to be
Answers (1)
Smiling Elephant, Inc., has an issue of preferred stock outstanding that pays a $5.80 dividend every year, in perpetuity. If this issue currently sells for $80.50 per share, what is the required return?
Answers (1)
Soar incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of $3,800. the division sales for the year were $1,058,000 and the variable costs were $868,000.
Answers (1)
Home » Business » The price of coffee rose sharply last month, while the quantity sold remained the same. five people suggest various explanations:
Sign Up Forgot Password?