When the Federal Reserve increases the money supply, people spend more because interest rates fall

If a product is an inferior good, then its income elasticity of demand is

A) zero. B) positive. C) negative. D) indeterminate. E) undefined.

Fast Food Terminals II Taco Casa is considering installing touch screen terminals for patrons to place their food orders. A terminal can typically accommodate the placement of 15 orders each hour while a human can process 20 orders each hour. If employee costs are $7.50/hour in wages and $4.50/hour in taxes, benefits and insurance, what is the per order opportunity cost of a touch screen?