Consider the two graphs above. Suppose rising fuel costs makes it more expensive to move goods to and from warehouses. This would ________ the desired level of inventories, as depicted in graph ________

Under which of the following scenarios would a park be considered a common resource?

a. Visitors to the park must pay an admittance fee, but there are always plenty of empty picnic tables. b. Visitors to the park must pay an admittance fee and frequently all of the picnic tables are in use. c. Visitors can enter the park free of charge and there are always plenty of empty picnic tables. d. Visitors can enter the park free of charge, but frequently all of the picnic tables are in use.

The cross-price elasticity of demand between good X and good Y is 0.5. Given this information, which of the following statements is true?

A. The demand for goods X and Y is inelastic. B. The demand for goods X and Y is income inelastic. C. Goods X and Y are complements. D. Goods X and Y are substitutes.