If a consumer increases her quantity of ice cream consumed by 100% when her income rises by 25%, then her income elasticity of demand for ice cream is

Which of the following goods should be clearly considered substitutes?

A. Peanut butter and jelly B. Right and left shoes C. Coke and Pepsi D. Gasoline and diesel fuel

A working knowledge of both markets and firms is important for managers to be effective because it

A. helps them train their subordinates better. B. helps them earn high bonuses. C. helps them make appropriate strategic and operational decisions. D. helps them to exploit other executives.