Suppose that a retailer sells 500 six-packs of Dr. Pepper per day at $3.50/six-pack. Also, suppose that the cross-price elasticity between Dr. Pepper and Pepsi is 0.6. Then Dr. Pepper and Pepsi are ________ goods

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Economics

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The monopolist faces the market demand curve

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A monopolist faces a

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James owns two houses. He rents one house to the Johnson family for $10,000 per year. He lives in the other house. If he were to rent the house in which he lives, he could earn $12,000 per year in rent. How much do the housing services provided by the two houses contribute to GDP?

a. $0 b. $10,000 c. $12,000 d. $22,000

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Adverse selection is a problem that arises:

A. before the parties have entered into an agreement. B. either before or after the parties have entered into an agreement. C. rarely in any market. D. after the parties have voluntarily entered into an agreement.

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