If the cross price elasticity of demand between two goods is? negative, then the two goods are

A firm’s demand curve can be used to determine average revenue.

Answer the following statement true (T) or false (F)

If a cartel seeks to maximize profits, the market share (or quota) for each firm should be set at a level such that the ____ of all firms is identical

a. average total cost b. average profit c. marginal profit d. marginal cost e. marginal revenue

When demand is unit elastic

A) price and revenue move in opposite directions. B) price and revenue are not related. C) price and quantity demanded move in opposite directions. D) price and revenue move in the same direction.

Which of the following is not an example of an infrastructure?

a. a transportation system b. a communications system c. a values system d. an educational system e. an energy system