A local pizzeria raised its price from $9 to $11 for each pizza and the sales of its pizza decreased from 150 to 100 per day. What is the price elasticity of demand in this case?

An attempt by a firm to create a monopoly and gain the economic profit from the monopoly is called

A) collusion. B) intrusion. C) profit seeking. D) rent seeking.

If the reserve ratio is 15 percent and commercial bankers decide to hold additional excess reserves equal to 5 percent of any newly acquired checkable deposits, then the relevant monetary multiplier for the banking system will be:

A. 3½. B. 4. C. 5. D. 10.