An organization of producers that limits the amount of a good produced is known as a

The opportunity cost of good A in terms of good B is equal to the

A) money price of good A minus the money price of good B. B) money price of good B minus the money price of good A. C) ratio of the money price of good A to the money price of good B. D) ratio of the money price of good B to the money price of good A.

If University of Nebraska increased its season football ticket sales from 43,000 to 47,000 when it lowered price from $350.00 to $300.00, then its demand for season tickets must be ________ because total revenue ________ when the price was lowered

A) elastic; decreased B) elastic; increased C) inelastic; decreased D) inelastic; increased