Soda and hot dogs are complements for one another. If a shortage of carbonated water leads to an increase in the price of soda, then the
A) demand for hot dogs increases.
B) demand for hot dogs decreases.
C) quantity of hot dogs demanded increases.
D) quantity of hot dogs demanded decreases.
E) More information is needed to determine if the demand increases or decreases.
B
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Sharon consumes 10 chocolates when the price of one chocolate is $2. If her arc elasticity of demand for chocolates is -1, she consumes ________ chocolates when the price increases to $4
A) 5 B) 6 C) 8 D) 9
Suppose Angelo Sessa, owner of Sezz Medi Brick Oven Pizza in NYC, earns $350,000 in revenue per year. He spends $800 a month on ash wood for his stove, $2000 a month on rent, and $1500 a month on ingredients
He used to be a lawyer and earned $240,000 a year before he opened up Sezz Medi. Normal profit for a pizza business is $30,000. What is Angelo's economic profit? A) $28,400 B) $350,000 C) $58,400 D) $268,400
Which of the following is not a type of an organization?
A. Trade-off free bundled mixed design B. The Uform C. The Mform D. Mixed design
The following economy produces two products.ProductsProduction Possibilities?ABCDEFTanks012345Autos10009508506503500Refer to the above table. The marginal opportunity cost of the fourth unit of tanks is:
A. 300 units of autos. B. 200 units of autos. C. 650 units of autos. D. 350 units of autos.