Barbara, the consummate hostess, proudly announced as she served dessert, "A port is often the perfect end to a meal, sipped with a piece of my scrumptious chocolate cake." Evidently, Barbara views port and chocolate cake as

A) luxury items. B) complementary goods.
C) necessities. D) substitutes for other desserts.

B

Economics

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Consider the same monopoly situation as in the previous question. The firm's profit will be

a. 1,760 b. 1,660 c. 2,264 d. 6,728

Economics

Market failure occurs when resources are misallocated.

Answer the following statement true (T) or false (F)

Economics