When a commercial bank receives a deposit, it must keep part of the deposit as cash reserves to satisfy its

A local restaurant increases the prices on its burgers as soon as it begins a promotional campaign. Which of the following is most likely to be true?

a. The promotional campaign featured how much better their burgers are b. The promotional campaign focused on the value per dollar c. The promotional campaign made demand more elastic d. All of the above

For all perfectly competitive firms in the short run and in the long run,

a. price equals marginal revenue b. demand is perfectly inelastic c. only economic profit is earned d. only normal profit is earned e. the market demand curve is horizontal