The price elasticity of demand between rifles and bullets is likely to be:
a. negative, because the goods are complements.
b. positive, because the goods are complements.
c. negative, because the goods are substitutes.
d. positive, because the goods are substitutes.
a
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Compared to Canada, Japan, Germany, and France, Social Security expenditures as a percentage of GDP of the United States is approximately
a. 12 percent and ranks among the lowest percent of the countries b. 47 percent and ranks among the lowest percent of the countries c. 12 percent and ranks among the highest percent of the countries d. 47 percent and ranks among the highest percent of the countries e. 77 percent and ranks among the highest percent of the countries
Four propane delivery firms have a tacit agreement to charge a service fee of $50 in addition to $5 per gallon of propane. If the firms' cost of propane increases and one of the four firms advertises that it will increase the service fee to $75 next month, this is an example of ________.
A) a preannouncement B) a precommitment C) a meet-the-competition clause D) price leadership