At a supermarket, the price of organic milk increases by 20 percent. According to the law of demand, the sale of organic milk would most likely ______.

In the U.S. economy, which of the following is NOT a generally accepted economic function of government?

A) providing public goods B) distributing consumer goods C) ensuring economy-wide stability D) promoting competition in the marketplace

In the long run, price elasticities of demand are usually ____

a. less than they are in the short run because people can adjust b. the same as they are in the short run because tastes don't change c. greater than they are in the short run because prices rise over time d. less than they are in the short run because real prices fall over time e. greater than they are in the short run because consumers have time to adjust