The component of aggregate expenditure that is not like other components because, in general, it is directly neutral to macroeconomic changes is:

To maximize joint profits, the members of a cartel have to determine the level of industry output by setting marginal revenue qual to the cartel's joint marginal costs of production

Indicate whether the statement is true or false

For which of the following is demand likely to be most price-elastic?

a. steak b. beef (including steak, ribs, hamburger, etc.) c. meat (including beef, pork, chicken, lamb, etc.) d. protein foods (including meat, cheese, beans, eggs, fish, etc.) e. none of the above (they will all have the same elasticity)