If a rise in the price of good 1 decreases the quantity of good 2 demanded
A) the cross elasticity of demand is negative.
B) the cross elasticity of demand is positive.
C) good 1 is an inferior good.
D) good 2 is an inferior good.
A
Economics
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Acme is a perfectly competitive firm. It has the cost schedules given in the above table and has a fixed cost of $12.00. The price of Acme's product is $14.20
What is Acme's most profitable amount of output? What is Acme's total economic profit or loss?
Economics
The money supply is $12.5 million, currency held by the nonbank public is $2.5 million, and the reserve—deposit ratio is 0.25
(a) What is the quantity of bank deposits? (b) What is the quantity of bank reserves? (c) What is the quantity of the monetary base? (d) What is the money multiplier (give a number)?
Economics