Beta Alpha Psi is an accounting student professional organization with chapters on 279 campuses nationwide. Suppose each meeting the local chapter has $30 to spend on pizza and soda
If pizza costs $8 and the chapter buys 3, how much money can be spent on soda? A) $6
B) $30
C) $24
D) $3
A
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Business executives who think the demand for their product is very elastic at the current price are assuming
A) the demand will become less elastic at a higher price. B) they will be able to sell more units at a higher price. C) they will sell fewer units but receive more dollars in sales revenue at a higher price. D) they will sell more units and receive more dollars in sales revenue at a lower price. E) they will sell more units but receive fewer dollars in sales revenue at a lower price.
Compensation of losers from opening an economy to international trade is not common because:
A) losers don't lose so much that they would require to be compensated. B) the loss is made up through the availability of a wider array of goods and services. C) it is difficult for governments to carry out such compensation policies. D) the government will have to transfer huge amounts of money to compensate losers.