Suppose that a retailer sells 500 six-packs of Dr. Pepper per day at $3.50/six-pack. Also, suppose that the cross-price elasticity between Dr. Pepper and Pepsi is 0.6. If the retailer lowers the price of Pepsi from $4.00 to $3.60/six-pack, what is the

The opportunity costs of land is largely determined by

A) need. B) real estate agents. C) demand. D) government.

When people withdraw money from their deposits in the banking system, the:

A. Excess reserves of the banking system will decrease B. Excess reserves of the banking system will increase C. Excess reserves of the banking system will not be affected D. Money supply will immediately decrease