Coke and Pepsi probably have a:
A. less elastic cross-price elasticity of demand than do Coke and bananas.
B. cross-price elasticity of demand that is smaller than do Coke and bananas.
C. negative cross-price elasticity of demand.
D. more elastic cross-price elasticity of demand than do Coke and bananas.
D. more elastic cross-price elasticity of demand than do Coke and bananas.
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Measuring expenditures and income with the price level allowed to vary, so that changes in these values represent changes in either the actual amount of goods, services, and income or changes in the price level or a combination of both factors is
denoted in ________ terms. A) nominal B) real C) constant dollar D) all of the above
If a firm enjoys producer surplus in perfectly competitive Market A of $1000 and would enjoy producer surplus in perfectly competitive Market B of $1200, the firm would consider moving to Market B if
A) fixed costs are greater than $100 in Market A. B) fixed costs are less than $200 in Market B. C) fixed costs are less than $300 but greater than $200 in Market B. D) fixed costs in Market B are less than the fixed costs in Market A plus $200.