Elasticity Demand Curves for Bricks
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In 1979, in a isolated small town, 100,000 bricks were sold at $1.20 per brick. In 1980, 120,000 bricks were sold at $1.50 each in the same town. This data could provide evidence of:
A) a totally elastic demand curve for bricks.
B) an unitary elasticity of demand for bricks.
C) a contraction in the supply of bricks over time.
D) a shift in the demand curve for bricks over time.
E) none of the above.
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For the two years, the quantity sold is increased by 20,000 bricks, while the price also ...
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