If a consumer purchases only two goods, X and Y, and if (MUx / Px) = (MUy / Py), then the consumer cannot reallocate her expenditures on X and Y to increase her utility unless she has more money to spend

The price elasticity of demand for a good tends

A) not to vary over time because people adjust to changed circumstances. B) to be greater over the long run than over a short period of time. C) to be less over the long run than over a short period of time. D) to rise when the demand increases. E) toward unity in the long run.

When a country allows trade and becomes an exporter of goods, producers gain more than consumers lose

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