We refer to the whole class of goods that firms will ________ in a completely unregulated market economy as public goods.

Consider the following pairs of items:

a. shampoo and conditioner b. iPhones and earbuds c. a laptop computer and a desktop computer d. beef and pork e. air-travel and weed killer Which of the pairs listed will have a negative cross-price elasticity? A) a and b only B) c and d only C) e only D) a, b, and c only

When economic rent exists,

A) the price is equal to the opportunity cost of the resources. B) price is the same as the discount rate. C) resources are allocated inefficiently. D) resources are allocated efficiently.