The demand curve for a product can be derived from consumer equilibrium by:
a. altering the prices of all other products.
b. altering consumer incomes.
c. shifting consumer preferences.
d. altering the price of the good itself.
e. knowing the demand curves for all other products.
d
Economics
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The current exchange rate system in the United States is best described as a
A) silver standard. B) fixed exchange rate system. C) managed float exchange rate system. D) gold standard.
Economics
If the price of coffee increases from $2.50 per cup to $3.00 per cup and the quantity demanded goes down from 120 cups per week to 115 cups per week, the absolute value of price elasticity of demand in that price range is approximately
A) 0.23. B) 4.35. C) 0.93. D) 2.34.
Economics