In colonial times, the French guinea, the Spanish pistole, and the English crown circulated as money on the streets of New York, Boston, Baltimore, and Philadelphia and were exchanged readily for each other

In the short run, fixed costs for a profitable firm are:

A. Zero B. Negative C. Important determinants of the output level D. Irrelevant in determining the optimal level of output

If the short-term own price elasticity for food is estimated to be ?0.4, then long-term own price elasticity is expected to be:

A. greater than -0.4 (less elastic). B. ?0.4. C. less than -0.4 (more elastic). D. neither greater than, less than, nor equal to ?0.4.