Consider two goods X and Y available for consumption. Assume that the price of X changes while the price of Y remains fixed. For these two goods, the price-consumption curve illustrates the
A) relationship between the price of X and consumption of Y.
B) utility-maximizing combinations of X and Y for each price of X.
C) relationship between the price of Y and the consumption of X.
D) utility-maximizing combinations of X and Y for each quantity of X.
B
Economics
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Refer to Figure 9.9. Now suppose an import quota of 3000 trucks is imposed. The quota will decrease the revenue of foreign firms by
A) $0. B) $2,500. C) $7,500,000. D) $11,250,000. E) $13,125,000.
Economics
Which of the following sets of goods are most likely to be complementary goods?
a. shoes and pizza b. automobiles and computers c. baseballs and baseball gloves d. football tickets and baseball tickets e. Dell and Gateway computers
Economics