Strawberries are produced in a perfectly competitive market. Average consumer incomes decrease. This will cause the individual strawberry farmer's marginal revenue to ________ and their profit-maximizing level of output to ________.

Which of these measures the responsiveness of the quantity of one good demanded to an increase in the price of another good?

A) price elasticity. B) income elasticity. C) cross-price elasticity. D) cross substitution elasticity.

See the information in Scenario 4.4. Suppose P = 10, Pc = 100, Pd = 2, A = 5, and I = 50. What is the price elasticity of demand?

A) 0 B) -5/9 C) -1 D) -9/5 E) none of the above