Orange juice and grapefruit juice are likely to be

A. inferior goods.
B. substitutes for one another.
C. complementary to one another.
D. all of the above.

Answer: B

Economics

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The above table shows production points on Sweet-Tooth Land's production possibilities frontier. What is the opportunity cost of one chocolate bar if Sweet-tooth Land moves from point C to point D?

A) 30 cans of cola per chocolate bar B) 10 cans of cola per chocolate bar C) 3 cans of cola per chocolate bar D) 1/3 can of cola per chocolate bar

Economics

Refer to Figure 4-8. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the value of the portion of consumer surplus transferred to producers as a result of the price floor?

A) $40,000 B) $100,000 C) $125,000 D) $140,000

Economics