When Scuba, Inc, lowered the price of a tank of compressed air by 20 percent, it sold 10 percent more tankfuls. The price elasticity for compressed air is

"Duopoly" is

A) another name for monopoly. B) a special type of monopolistic competition. C) a two-firm oligopoly. D) a game with three players. E) the situation when a firm sets a duo (two) of different prices for its customers.

Answer the next question based on the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 12 percent. All figures are in billions of dollars.AssetsLiabilities & Net WorthReserves$60  Checkable Deposits$150Loans100  Stock Shares135Securities25 Property100?Refer to the above data. The commercial banking system has excess reserves of:

A. $42 billion. B. $32 billion. C. $60 billion. D. $36 billion.