Answer:
Sam: Supply decreased, but demand was perfectly elastic.
Explanation:
Sam is right because the only possible explanation is that the demand is perfectly elastic and the supply decreased. When the price elasticity of demand is perfectly elastic, the demand curve is completely horizontal. Since the price of coffee remained the same, that means that the quantity demanded will decrease only if the supply of coffee decreased.
Answer:
D
Explanation:
they are promoting their value to the industry and not trying to inform about a specific product. the intent of institutional marketing is to build trust in the brand.
Answer: The correct answer is "firms offer different levels of service".
Explanation: Firms might charge different prices for the same product even when transactions costs are zero and the product can be resold if the <u>firms offer different levels of service. </u>Because depending on the level and quality of the service offered they may charge a higher or lower price.
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Answer:
100
Explanation:
$2 times 100 tacos is equal to $200.