If the price of oranges went up by 20 percent, which of the following values of the cross price elasticity for apples would be most reasonable to anticipate?
A. -2.0
B. 0.0
C. 1.2
D. -0.2
Answer: C
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Does a change in the real interest rate shift the supply of loanable funds curve? Explain your answer
What will be an ideal response?
In the perfectly competitive model, all firms are assumed to be producing: a. products that are heavily advertised. b. differentiated products
c. identical products. d. complementary products.
Laws that make it illegal for firms to conspire to raise prices or reduce production are known as
A. antimonopoly laws B. all of these answers C. anti-collusion laws D. pro-competition laws E. antitrust laws
An increase in the price of input used to produce a product will lead to
A. a decrease in quantity supplied of that product B. a decrease in the supply of that product. C. a decrease in the demand for that product. D. an increase in the supply of that product.