Two goods are substitutes when a decrease in the price of one good
a. decreases the demand for the other good

b. decreases the quantity demanded of the other good.
c. increases the demand for the other good.
d. increases the quantity demanded of the other good.

a

Economics

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In the above figure, a recession begins at point ________ and an expansion begins at point ________

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Refer to Figure 8.2. At P = $80, how much is profit in the short run?

A) $88 B) $306 C) $351 D) $1000 E) $1024

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