If the cross-price elasticity of salt and pepper is positive the goods must be complements.

Suppose duopolists face the market inverse demand curve P = 100 - Q, Q = q1 + q2, and both firms have a constant marginal cost of 10

If firm 1 is a Stackelberg leader and firm 2's best response function is q2 = (100 – q1)/2, at the Nash-Stackelberg equilibrium firm 1's output is A) 30. B) 40. C) 60. D) 70.

The Federal Funds Committee executes the purchases and sales of government securities decisions of the Federal Reserve

a. True b. False Indicate whether the statement is true or false