I think the answer might be B
Answer:
Decrease; inelastic
Explanation:
Let's say the demand elasticity for Aaron's scones is |.5|. Then for a 1% increase in prices, there will be a .5% DECREASE in quantity demanded. Demand is INELASTIC.
Because demand elasticity is greater than one(1.5), it is price elastic i.e it is sensitive to price. An increase in price will lead to a decrease in quantity demanded and vice-versa.
But because the responsiveness in quantity demanded or the sensitivity to the change in price is not significant, the demand is inelastic.
The $5 per hour in 1974 would be equal to $21.82 today in 2017, compared to $19.83 for the $9 in 1994 now in 2017, and all compared to the $17 today. So the higest real wage would be that of the grandfather, taking into account the 41% per decade or 3.5% per year inflation.
Answer:
78% of 2.
Explanation:
Get a calculator. Press ON, then press 78 WITH PERCENT IF APPLICABLE. Times 2. Enter, thats your answer is what you get.