Due to the recent increase in the price of natural gas, the quantity of coal demanded by electric power generation plants has increased. Based on this information, coal and natural gas are:
A) complements.
B) substitutes.
C) independent goods.
D) none of the above
B
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When each member of a group has transitive preferences but the collective preferences of the group are not transitive, this is an anomaly known as the ________
Fill in the blank(s) with correct word
A change in any of the ceteris paribus conditions for demand leads to a
A) a good going from an inferior good to a normal good. B) movement along the demand curve. C) shift of the demand curve. D) change in supply.
A temporary decrease in the price of oil will shift the short run aggregate supply curve right but not shift the long run aggregate supply curve
a. True b. False Indicate whether the statement is true or false
When offered a bet at unfair odds, a risk-neutral individual will
a. not bet. b. bet everything on the outcome favored by the unfair odds. c. bet everything on the outcome not favored by the unfair odds. d. be indifferent about the amount that he bets.