John wants to buy a new lawn mower. He can either buy it in the US and pay $500 or buy it in Mexico and pay 6188 Mexican Pesos. At the exchange rate of 1 Mexican Peso=0.771US$, ignoring any other costs, he would
a. Prefer buying in the US
b. Prefer buying in Mexico
c. Be indifferent about where he buys his television
d. None of the above
b
Economics
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The figure tells us about the market for red roses. The consumer surplus is ________ a day
A) $800 B) $200 C) $1,000 D) $20
Economics
Many younger people eat peanut butter AND jelly, whereas many older people eat peanut butter OR jelly. This suggests that the cross elasticity of demand between peanut butter and jelly is
A) negative for youngsters and positive for oldsters. B) positive for youngsters and negative for oldsters. C) negative for youngsters and zero for oldsters. D) positive for youngsters and zero for oldsters.
Economics