The market demand for MP3 player is p = 50 - 0.5Q, and the marginal cost for Nick to obtain and sell a MP3 player is $10. If he signed a fixed-fee rental contract with the store owner and pays $1000 as the rent,

A rise in the price of good A shifts the ________ good B rightward if the cross elasticity of demand between A and B is ________

A) demand curve for; negative B) demand curve for; positive C) supply curve of; negative D) supply curve of; positive

In the long run, the economic profits of Hoot's Chicken 'n' Ribs, a monopolistic competitor, are:

a. not eliminated, because competition is not perfect. b. not eliminated, because the demand curve slopes downward. c. eliminated due to firms entering the industry. d. eliminated due to firms leaving the industry. e. not eliminated, because firms cannot enter the industry.