If the cross price elasticity between Goods A and B equals 0.7, then a reduction in the price of Good B will:

a. increase the demand for Good A and increase Good A's price as a result.
b. increase the demand for Good A and decrease Good A's price as a result.
c. decrease the demand for Good A and increase Good A's price as a result.
d. decrease the demand for Good A and decrease Good A's price as a result.


d

Economics

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At an output level of 100, a monopolist faces MC = 15 and MR = 17. At output level q = 101, the monopolist faces MC = 16 and MR = 15. To maximize profits, the firm

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