How many members can serve on the Board of Governors of the Federal Reserve System?

Cross elasticity of demand compares the change in the

a. price of one good that is generated by a change in the price of another good b. quantity demanded of one good that is generated by a change in the price of another good c. price of one good that is generated by a change in quantity demanded of another good d. quantity demanded of one good that is generated by a change in the supply of another good e. quantity demanded of one good that is generated by a change in quantity demanded of another good

Perfectly competitive firms cannot individually affect market price because

A. Demand is perfectly inelastic for their goods. B. There are many firms, none of which has a significant share of total output. C. The government exercises control over the market power of competitive firms. D. There is an infinite demand for their goods.