Which one of the following would NOT result in an increase in the quantity demanded for CIT parking?
a) An increase in real incomes.
b) Extra parking spaces being made available.
c) An increase in the price of CIT parking.
d) None of the above.
Answer: c) An increase in the price of CIT parking.
Economics
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When the price of Ford pickup trucks rises from $18,000 to $19,000, the quantity of Chevy trucks demanded increases from 112,000 to 144,000. What is the cross elasticity of demand between Ford and Chevy trucks?
What will be an ideal response?
Economics
Marginal cost is equal to the
A) change in total cost divided by the change in output. B) change in average total costs divided by the change in output. C) change in average product divided by the change in output. D) change in total product divided by the change in output.
Economics