Suppose the demand function is Qxd = 100 ? 8Px + 6Py - M. If Px = $4, Py = $2, and M = $10, what is the cross-price elasticity of good x with respect to the price of good y?

Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a theater ticket. If the price of one ticket rises from $10 to $19

A) only three tickets will be sold. B) consumer surplus decreases from $31 to $6. C) no one will buy a ticket. D) consumer surplus increases from $44 to $71.

If the marginal propensity to consume is 0.80, the value of the spending multiplier will be 5

a. True b. False Indicate whether the statement is true or false