The price of coffee rose sharply last month, while the quantity sold remained the same. five people suggest various explanations:

a. leonard: demand increased, but supply was perfectly inelastic.
b. sheldon: demand increased, but it was perfectly inelastic.
c. penny: demand increased, but supply decreased at the same time.
d. hoaward: supply decreased, but demand was unit elastic.
e. raj: supply decreased, but demand was unit elastic.

who could possibly be right? use graphs to explain your answer.

Yang corporation starts a foreign subsidiary on january 1 by investing 20,000 rand. yang owns all of the shares of the subsidiary’s common stock. the foreign subsidiary generates 40,000 rand of net income throughout the year and pays no dividends. the rand is the foreign subsidiary’s functional currency. currency exchange rates for 1 rand are as follows: lo 10-3 january $0.25 = 1 rand average for the 0.28 = 1 december 0.31 = 1 in preparing consolidated financial statements, what translation adjustment will yang report at the end of the current year? a. $400 positive (credit). b. $1,000 positive (credit). c. $1,400 positive (credit). d. $2,400 positive (credit). hoyle, joe ben; hoyle, joe ben. advanced accounting (page 513). mcgraw-hill higher education. kindle edition.