What percentage of their spending do U.S. consumers allocate to food purchases?

The American Revolution resulted in

(a) a loss of British military assistance, governmental expertise, judicial assistance and public funding for wars. (b) greatly expanded rights for wage workers and indentured servants. (c) significant change with respect to market behaviors, ownership of property and individual freedom. (d) a dramatic change in laws and the ownership of property.

The profit-maximizing monopolist will operate in a price range over which

A) demand is elastic. B) demand is inelastic. C) the price elasticity of demand is less than 1. D) supply is elastic.