In order to prove that Motrin and Ibuprofen are substitutes, one should measure the ________ and get a ________
A) price elasticity of demand; number greater than 1 (in absolute value)
B) cross-price elasticity; positive number
C) cross-price elasticity; negative number
D) price elasticity of demand; number less than 1 (in absolute value)
B
Economics
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It is expected that the price of a bushel of wheat will increase in one month. This belief will result in
A) a decrease in the future supply of wheat. B) an increase in the current supply of wheat. C) a decrease in the current supply of wheat. D) no change in the current or future supply of wheat. E) an increase in the current quantity supplied of wheat.
Economics
Adverse selection in competitive insurance markets harms
a. high-risk individuals. b. low risk individuals. c. owners of competitive insurance companies. d. everyone.
Economics