Suppose that goods X and Y are substitutes and the price of good Y falls. We would then expect
A) the quantity of good Y demanded to increase and the demand for good X to increase also.
B) an increase in the demand for good X and a decrease in the quantity of good Y demanded.
C) an increase in the quantity demanded of good Y and a decrease in the demand for good X.
D) an increase in the demand for both good X and good Y.
C
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A monopolist has less to gain from cost-saving measures in the production process when
a. the monopoly is unregulated. b. regulators use average cost pricing to set the monopolist's price. c. the demand for the product of the monopolist is inelastic. d. changes in the regulated price occur only after considerable delay.
Which law serves as the basis for most equal employment opportunity laws?
A) Title IX of the Education Amendments of 1972 B) Title VII of the 1964 Civil Rights Act C) Federal Affirmative Action Act D) Title IV of the Higher Education Act