The market demand for wheat is Q = 100 - 2p + 1pb, where pb is the price of barley. The cross price elasticity of demand for wheat with respect to barley
A) cannot be calculated from just the information provided.
B) is negative.
C) suggests that wheat and barley are complements.
D) equals 1.
A
Economics
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The figure above shows the market for pizza
a) If the price of a slice of pizza is $3, what is the consumer surplus of the 50th slice? b) If the price of a slice of pizza is $3, what is the producer surplus of the 50th slice? c) What is the efficient quantity? What is the equilibrium quantity? What is the deadweight loss when the equilibrium quantity is produced?
Economics
A quota brings a more serious misallocation of resources than a tariff.
Answer the following statement true (T) or false (F)
Economics