If the cross-price elasticity of demand between lettuce and salad dressing is negative, then when the price of lettuce rises, the demand for salad dressing will ________.
A. increase
B. become more inelastic
C. decrease
D. remain the same
Answer: C
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A) a liability; a liability B) an asset; net worth C) a liability; an asset D) an asset; a liability E) an asset; an asset
Scarcity is a concept that applies to all of the following except
a. time. b. natural resources. c. human wants. d. machinery.
A perfectly price discriminating monopolist's profit is ________ the profit of a monopolist who charges the same price to all of its customers.
A. sometimes less than and sometimes greater than. B. the same as C. higher than D. less than
The difference between public goods and private goods rests on technical considerations of exclusion of use and not political philosophy.
Answer the following statement true (T) or false (F)