Price controls would ordinarily be used to increase rather than decrease prices of depletable resources.

Intraindustry trade is most common in the trade patterns of

A) developing countries of Asia and Africa. B) developed countries of Western Europe. C) all countries. D) None of the above.

Which of the following statement is true?

a. The demand for Cheerios is less elastic than the demand for cereal b. The demand for gas is more elastic in the short-run than in the long-run c. The demand for puma shoes is more elastic than the demand for shoes d. Products with many complements have a more elastic demand