A standard which came to the market first, such as the QWERTY letter layout in typewriters, can become entrenched (this layout is still used for computer keyboards today). What is this phenomenon called?

If goods are complements, then their

A) cross elasticities are positive. B) income elasticities are positive. C) income elasticities are negative. D) cross elasticities are negative.

Which of the following does not determine the position and shape of a society’s production possibilities frontier?

A. Physical resources B. Price level C. Skills and technology D. Past investment in factories and in research