The term cross-price refers to the idea that:
a. the price of one good is affecting the quantity demanded of a different good.
b. the demand of one good is affecting the quantity demanded of a different good.
c. the price of one good is affecting the quantity supplied of a different good.
d. the supply of one good is affecting the quantity demanded of a different good.
a. the price of one good is affecting the quantity demanded of a different good.
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A return to the gold standard, that is, using gold for money will ________ the ________ for gold, ________ its price, everything else held constant
A) increase; demand; increasing B) decrease; demand; decreasing C) increase; supply; increasing D) decrease; supply; increasing
When the TR and TC curves have the same slope,
A) they are the furthest from each other. B) they are closest to each other. C) they intersect each other. D) profit is negative. E) profit is zero.