For which of the following goods is the income elasticity of demand likely lowest?

Individual members of a cartel have an incentive to ____ the cartel agreement because pursuit of ____ will maximize individual profit

a. adhere to; self-interest b. cheat on; collective interest c. cheat on; self-interest d. adhere to; collective interest

Answer the following questions true (T) or false (F)

1. Equity equals liabilities minus assets. 2. The debt-to-asset ratio for the farm sector is in the order of 20 percent. 3. Indifference curves may intersect.