Total cost schedule for a competitive firm: If market price is $30, how many units of output will the firm produce?

If two goods have a cross elasticity of demand of -2, then when the price of one good increases, the demand curve of the other good

A) shifts rightward. B) shifts leftward. C) remains unchanged and the supply curve also remains unchanged. D) might shift rightward, leftward, or remain unchanged. E) remains unchanged but the supply curve shifts leftward.

The prime rate is a lagging indicator

a. True b. False Indicate whether the statement is true or false