The behavior of exchange rates has very little to do with the values used in financial statements

A 3 percent increase in the price of cotton leads to a 6 percent decrease in the quantity demanded of cotton. The absolute price elasticity of demand is

A) 3. B) 2. C) 0.5. D) 0.33.

Rivalry among firms would tend to be high if

a. Firms are located further from each other b. Firms are located close to one another c. There is only one firm in the market d. None of the above