Referring to the previous question, all else constant, a one unit increase in the price of good Y would cause the quantity demanded of good X to:
A) decrease by 2 units.
B) increase by 2 units.
C) decrease by 1 unit.
D) decrease by 5 units.
A
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In the case of Matsushita v. Zenith, the fact that the foreign television manufacturers were able to charge lower prices than their domestic competitors in the U.S
market for televisions was sufficient evidence to conclude that the Japanese firms were engaged in predatory pricing. Indicate whether the statement is true or false
Compared to a fixed exchange rate, a monetary union
A) involves soft pegs. B) does not allow adjustments to exchange rates. C) is managed at the International Monetary Fund. D) has no central bank.
Assume that the characteristic functions for individuals 1,2, and 3 are given by V(1) = $20, V(2) = $16, and V(3) = $10 respectively, and value created by the coalition V(1,2,3) = $60 . If the payoff to individual 1 is $30, and that to individuals 2 and 3 is $15 each, which of the following statements is true?
a. The given allocation is within the core. b. 2 and 3 will withdraw from the coalition. c. 2 will block the imputation. d. This allocation is individually rational for all.
Prior to the industrial revolution
A. economic growth was only 1 percent per year. B. life remained the same from one generation to the next. C. most workers were craftsmen, such as millers, carpenters, and tailors. D. there were very few rich people, but there were very few poor people.