Adding foreign financial assets to an investment portfolio raises the riskiness of the entire portfolio of investments.

When firms engage in tacit collusion, they:

a. meet periodically to establish production quotas. b. meet periodically to establish a monopoly price. c. limit production in a way that enhances industry profits. d. compete on price by undercutting each other.

Suppose the price of apples decreases from $1.00 to $0.80 each and, as a result, the quantity of apples demanded increases from 800 to 1,000 . Using the midpoint method, the price elasticity of demand for apples in the given price range is

a. 0.22. b. 0.5. c. 1.0. d. 4.5.