Julie always purchases the soda with the lowest price. For Julie, the cross price elasticity of demand for brand X and brand Y will be
A) equal to 0.
B) negative.
C) positive.
D) impossible to determine without more information.
C
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Economic goods are items that
A) are used only by economists. B) provide satisfaction to users. C) cannot be sold at any price in the market. D) individuals would pay to get rid off.
A "payday loan" is a ________ amount of money borrowed for short period, by ________ income people who have a checking account, a job, and direct deposit of their paycheck
a. large; higher b. small; higher c. large; lower d. small; lower
Many cities have summer pops series in which the local orchestra performs light classical music in a public park. These performances are free in some areas. Apply the concept of a public good to pops performances and explain whether an admission charge is efficient.
What will be an ideal response?
Professional female basketball players make far less income than do professional male basketball players. Why?
A. compensating differentials B. gender discrimination C. The supply of female players is far greater than the supply of male players. D. The demand for female players is far less than the demand for male players.