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When Richard Opened the Kite Hut,he Charged $7 for Kites

Question 6

Multiple Choice

When Richard opened The Kite Hut,he charged $7 for kites and could not keep up with the 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 a(n) :


A) supply schedule
B) symmetrical price
C) price equilibrium
D) inventory equalizer
E) inelastic price

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