In the above table, the cross price elasticity of demand (using averages) for Z with good X, when PX increases from $12 to $15, is approximately equal to
A) +1.03
B) +2.26.
C) +0.44.
D) -0.44.
C
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Using Scenario 1, calculate the total cost of pollution when both steel companies are allowed to pollute only one million gallons of thermal water each and the right is not transferable or tradable
What will be an ideal response?
When the Federal Reserve reduces its target rate of inflation, it will set a ________ real interest rate at every inflation rate and the aggregate demand curve will ________.
A. lower; shift to the right B. higher; shift to the left C. lower; shift to the left D. higher; shift to the right
The following table shows the units of output a worker can produce per month in country A and country B. Country Food Electronics Country A 20 5 Country B 12 4 Which of the following statements about absolute advantage is true?
A. Country A has the absolute advantage in the production of food while country B has the absolute advantage in the production of electronics. B. Country A has the absolute advantage in the production of both food and electronics. C. Country B has the absolute advantage in the production of both food and electronics. D. All of these.
Recall the Application about the short-run and long-run elasticity of supply of coffee to answer the following question(s). Recall the Application. What is the reason identified in the Application regarding why the short-run elasticity of supply of coffee is more inelastic than in the long run?
A. It takes at least 3 years for a newly planted coffee bush to yield marketable beans. B. Coffee production is capital intensive, and the farmers cannot afford the additional capital. C. Fertilizers are expensive in countries that produce coffee. D. The government controls the supply of coffee in those countries.