The price of coffee rose sharply last month, while the quantity sold remained the same. Five people suggest various explanations:
LEONARD: Demand increased, but supply was perfectly inelastic.
SHELDON: Demand increased, but it was perfectly inelastic.
PENNY: Demand increased, but supply decreased at the same time.
HOWARD: Supply decreased, but demand was unit elastic.
RAJ: Supply decreased, but demand was perfectly inelastic.
Who could possibly be right? Use graphs to explain your answer.