relationship holds. Hint: Label the table columns: 1) Choice, 2) Marginal Gain from More Poems, 3)

Marginal Loss from Fewer Cucumbers, 4) Overall Gain or Loss, 5) Is the previous choice optimal? Label the

table rows: 1) 0 Poems and 18 Cucumbers, 2) 1 Poem and 15 Cucumbers, 3) 2 Poems and 12 Cucumbers,

4) 3 Poems and 9 Cucumbers, 5) 4 Poems and 6 Cucumbers, 6) 5 Poems and 3 Cucumbers, 7) 6 Poems and

0 Cucumbers.

17. If a 10% decrease in the price of one product that you buy causes an 8% increase in quantity demanded of

that product, will another 10% decrease in the price cause another 8% increase (no more and no less) in

quantity demanded?

Access for free at openstax.org
Production, Costs, and Industry
Structure

7

FIGURE 7.1 Amazon is an American international electronic commerce company that sells books, among many

other things, shipping them directly to the consumer. Until recently there were no brick and mortar Amazon stores.
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