The study of how one business firm sets its prices would fall under the study of:

The welfare rolls today are

A. much higher than they were in 1994. B. A little higher than they were in 1994. C. a little lower than they were in 1994. D. much lower than they were in 1994.

Which of the following factors would indicate a less elastic demand?

A. The good represents a large fraction of the budget. B. Demand is measured over a shorter period of time. C. The price of the good is low. D. New substitutes are created.