The price of a California orange is $2.00 and the price of a Florida orange is $1.00. If the price of California oranges goes down by one cent and the quantity demanded of Florida oranges goes up by one thousand, then
a. the cross elasticity is 0.4.
b. these goods are substitutes.
c. the price elasticity of demand for California oranges is 0.4.
d. these goods are complements.
d. these goods are complements.
Economics
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An increase in the stock of capital in a society is called capital deepening
a. True b. False Indicate whether the statement is true or false
Economics
Under the target price program,
A) the government ends up buying the surplus product that results. B) taxpayers pay the difference between the price consumers pay and the target price. C) deficiency payments are made to both rich and poor farmers. D) the surplus that results is sometimes dumped or otherwise wasted. E) b and c
Economics