Refer to the table above. What is the total revenue when the monopolist charges a price of $3?

If beef and pork are substitutes for consumers, the cross elasticity of demand between the two products must be

A) negative. B) positive. C) indeterminate. D) elastic. E) greater than 1.

The balance of payments is

A) a summary record of the financial transactions of a country's government with foreign governments. B) a summary record of a country's imports and exports of goods with foreign residents and governments. C) a summary record of a country's economic transactions with foreign residents and governments. D) a summary record of a country's purchases and sales of goods and services in the world market.