The cross price elasticity of demand for a good x is the percentage change in the quantity demanded of good x in response to a given percentage change in

Extractive institutions control political power to:

A) enforce property rights and an equitable legal system. B) allow new businesses to enter and compete in a market. C) transfer resources from the ruling party to society. D) transfer resources from society to the ruling party.

The figure above shows the market for tires. The figure shows that the government has imposed a tax of ________ per tire

A) $10 B) $30 C) $40 D) $60 E) None of the above answers is correct.