Cross elasticity is higher the more perfect two goods are as substitutes
Indicate whether the statement is true or false
T
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Suppose the market for potatoes can be expressed as follows: Supply: QS = -20 + 10p Demand: QD = 400 - 20p Solve for the equilibrium price and quantity
What will be an ideal response?
As long as TVC < TR, a firm will have a positive level of output in the short run
a. True b. False Indicate whether the statement is true or false
If the quantity of money demanded exceeds the quantity supplied:
A. the supply-of-money curve will shift to the left. B. the demand-for-money curve will shift to the right. C. the interest rate will rise. D. the interest rate will fall.
Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer maximizes profits, his per-bushel profit will be
A. $2. B. $4. C. $9. D. $15.