The figure above shows Tanya's consumption possibilities. Tanya spends $100 per month on movies and restaurant meals. The price of a movie ticket is ________ and the price of a restaurant meal is ________

If the percentage change in the quantity demanded of a good is greater than the percentage change in price, price elasticity of demand is:

a. elastic. b. inelastic. c. perfectly inelastic. d. perfectly elastic.

If a firm pays all transportation costs and it is very costly to transport the inputs, but relatively inexpensive to transport the final product, the cost-minimizing location for the plant will be closer to the ________ and farther away from the ________.

A) customers; distributors B) customers; inputs C) distributors; customers D) inputs; customers