If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts leftward, the equilibrium
A) price of bottled water definitely increases.
B) price of bottled water definitely decreases.
C) quantity of bottled water definitely increases.
D) quantity of bottled water definitely decreases.
A
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Explain why the cross elasticity of demand for substitute goods is positive and the cross elasticity of demand for complements is negative
What will be an ideal response?
For complements:
A. price elasticity of income is positive. B. price elasticity of income is negative. C. cross-price elasticity of demand is negative. D. cross-price elasticity of demand is positive.
The development of modern rich nations can be characterized by three? stages:
What will be an ideal response?
In an efficient market, an average investor who is outside Wall Street
A. cannot expect to get average returns. B. must be constantly vigilant by analyzing and adjusting their portfolio to get average returns. C. will habitually exceed average returns. D. will get average returns in a well-diversified portfolio even without analyzing or managing it.