Chicken and fish are substitutes. Therefore, the cross elasticity of demand between chicken and fish should be:
a. negative
b. positive.
c. zero.
d. All of the above are possible.
b
Economics
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Which of the following countries is a member of the Eurozone?
A) Sweden B) Finland C) Norway D) Switzerland
Economics
The figure above shows the market for pants. If the efficient quantity is produced,
A) there will be no consumer surplus. B) the sum of consumer and producer surplus will be maximized. C) a small deadweight loss will result. D) the sum of consumer and producer surplus will be minimized. E) the consumer surplus on all the pants must equal the producer surplus on all the pants.
Economics