If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then the income elasticity of demand for housing is

There are dozens of pasta producers that sell pasta to hundreds of Italian restaurants nationwide. The restaurant owners buy from the cheapest pasta producer available to them.

A. Yes, meets all assumptions B. No, no free entry C. No, not many sellers D. No, not a homogeneous product

If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:

a. 20 Mexican pesos. b. 0.05 Mexican pesos. c. 0.05 U.S. dollars. d. 20 U.S. dollars. e. 1 Mexican peso.