Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. Suppose the storage costs are zero and the initial production costs are the same. What is the implied (approximate) interest rate if black sells for $12, red for $16 and blue for $44

Even though airfares have been increasing, the revenue earned by airlines has declined. Based on this statement, what may be concluded about price, cross-price, or income elasticity of demand?

What will be an ideal response?

A profit-maximizing firm will continue to employ land until

A. MRPLAND = MPLAND. B. MRPLAND = 0. C. MRPLAND = PLAND. D. MPLAND = PLAND.