In a coin toss bet, where both heads and tails are equally likely, you win a $2 on heads but lose $1 on tails. The expected value of the bet is

If a rise in the price of good B increases the quantity demanded of good A

A) A and B are substitutes. B) A and B are complements. C) A is a substitute for B, but B is a complement to A. D) B is a substitute for A, but A is a complement to B.

A firm finds that it can produce several different goods at a lower average cost by using some of the same production facilities than it could if it produced each of the goods with separate production facilities. This firm is

A) gaining economies of scope. B) gaining economies of team production. C) gaining economies of scale. D) incurring diseconomies of scale.