Multiple Choice
When Richard opened The Kite Hut,he charged $7 for kites and could not keep up with demand.The Kite Hut has raised the price to $10,and now Richard is still selling all the kites he carries,but he is not forced to reorder on a daily basis.The $10 price is probably which of the following?
A) a price equilibrium
B) an inelastic price
C) a symmetrical price
D) an inventory equalizer
Correct Answer:
Verified
Correct Answer:
Verified
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