Chicken and fish are substitutes. Therefore, the cross elasticity of demand between chicken and fish should be:
a. negative
b. positive.
c. zero.
d. All of the above are possible.
b
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Alice, Bob, and Cody live in Wesland. Their annual incomes and the amounts they pay in income tax are shown in the table below. Income Tax Alice 30,000 6,000 Bob 50,000 7,500 Cody 100,000 12,000 The income tax in Wesland is
A) proportional. B) regressive. C) flat-rate. D) progressive.
Which of the following makes it possible for even a small investor to hold a diverse set of stocks and still keep the cost of purchasing additional stock holdings low?
What will be an ideal response?
What is/are the important things that must be developed when characterizing consumer behavior?
A. Individual goals of the firm and consumer opportunities B. Individual goals of the firm C. Consumer preferences and consumer opportunities D. Consumer opportunities
When economists say the quantity demanded of a product has increased, they mean the:
A. demand curve has shifted to the left. B. demand curve has shifted to the right. C. price of the product has fallen, and consequently, consumers are buying more of it. D. price of the product has risen, and consequently, consumers are buying less of it.