Dell lowers the price of their PCs by 10 percent. As a result, the quantity of Gateway computers demanded at the current price decreases by 12 percent
What is the cross elasticity of demand for Gateway computers with respect to the price of Dell computers? A) -1.20
B) -0.83
C) 1.20
D) 0.83
C
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The struggles and controversies over federal and state powers led to the demise of both the First and Second Bank of the United States
Indicate whether the statement is true or false
Unexpected high inflation redistributes wealth from:
A. those who save to those who borrow. B. those who borrow to those who save. C. those who borrow to banks. D. banks to those who save.
Who most clearly gains from a tariff on imports?
a. Consumers in the importing country b. Producers in the exporting country c. The government in the exporting country d. Producers in the importing country
Alex's Furniture Mart produces and sells tables in a perfectly competitive market. When Alex's Furniture Mart produces and sells 250 tables, its marginal cost is equal to $200, and AVC is rising. If the market price of tables is equal to $150, Alex's Furniture Mart should:
A. decrease its level of table production. B. increase its level of table production. C. continue producing 250 tables. D. raise the price of its tables.