When a good is more broadly defined (for example, Starbucks Caramel Macchiato versus coffee),
a. it will have more available substitutes so demand will be more elastic.
b. it will have more available substitutes so demand will be less elastic.
c. it will have fewer available substitutes so demand will be more elastic.
d. it will have fewer available substitutes so demand will be less elastic.
D
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Under the cartel, the individual firm's quantity is (assuming it obeys its quota) 
Figure 42.2
A. Q1. B. Q2. C. Qa. D. Qb.
When was the last year the United States had a budget surplus?
A) 2001 B) 1993 C) 2014 D) 1984
An increase in the money wage rate shifts the short-run aggregate supply curve ________; an increase in technology shifts the long-run aggregate supply curve ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
A monopolist that maximizes total revenue earns maximum economic profit
a. True b. False Indicate whether the statement is true or false