Managerial Economics & Organizational Architecture 6th Edition by James Brickley , Clifford Smith ,Jerold Zimmerman

تمرين 29

Input cost increases have caused the industry supply curve for golf balls to shift. The equilibrium quantity changed, but the price did not. Can you say anything about the elasticity of either the demand or supply curves from observing these effects Will consumer expenditures on golf balls increase or decrease Explain.