If the cross-price elasticity of demand for two goods is negative, then the two goods are substitutes
a. True
b. False
Indicate whether the statement is true or false
False
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Use the following graph showing the average total cost curve for a perfectly competitive firm to answer the next question.
At the long-run equilibrium level of output, this firm's total revenue
A. is $400. B. is $10. C. is $40. D. cannot be determined from the information provided.
The Bureau of Economic Analysis releases its first estimate of GDP for a particular quarter about a month after the quarter has ended, and continues to release revised GDP estimates for that quarter for
A) three additional months. B) the next 15 months. C) three years. D) more than three years.
Which of the following would be most likely to have monopoly power?
a. a long-distance telephone service provider b. a local cable TV provider c. a large department store d. a gas station
An individual bank can lend out at most its
What will be an ideal response?