Holdouts who set a price for land above their opportunity cost and refuse to budge on selling their land for a lower price can reduce the size of the economic pie

By 1860, over one-half of all Southern farms utilized slave labor

Indicate whether the statement is true or false

If the income elasticity of a good is ?1.8, this means this good is a(n):

A. luxury good. B. substitute good. C. complementary good. D. inferior good.