If Joe says that nothing comes close to a Pepsi, his demand for Pepsi is likely to be
a. relatively price elastic
b. relatively income elastic
c. relatively price inelastic
d. unit elastic
e. infinitely elastic
C
Economics
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If the price of papayas is 12 baht in Thailand and the exchange rate is 30 baht per dollar, then what is the dollar price of papayas?
A) $0.40 B) $2.50 C) $2.90 D) $26.00
Economics
A decrease in the quantity supplied is represented by a
A) movement down the supply curve. B) movement up the supply curve. C) rightward shift in the supply curve. D) leftward shift in the supply curve.
Economics