When demand is elastic, a decrease in price will

When the exchange rate for the Mexican peso changes from 10 pesos to the U.S dollar to 9 pesos to the U.S. dollar, then the Mexican peso has ________ and the U.S. dollar has ________

A) appreciated; appreciated B) depreciated; appreciated C) appreciated; depreciated D) depreciated; depreciated

In an administrative command economy, a price below equilibrium

a. means we can buy cheap goods freely b. creates opportunities for corruption c. does not matter at all d. both a and b are correct e. none of the above