If the cross-price elasticity of demand between two goods is -1.2, then the two goods are:

The law of demand concludes that a rise in the price of a golf ball ________ the quantity demanded and ________

A) increases; shifts the demand curve for golf balls rightward B) decreases; shifts the demand curve for golf balls leftward C) decreases; creates a movement up along the demand curve for golf balls D) increases; creates a movement down along the demand curve for golf balls

Deadweight loss from monopoly power is expressed on a graph as the area between the

A) competitive price and the average revenue curve bounded by the quantities produced by the competitive and monopoly markets. B) competitive price line and the marginal cost curve bounded by the quantities produced by competitive and monopoly markets. C) competitive price line and the monopoly price line bounded by zero output and the output chosen by the monopolist. D) average revenue curve and the marginal cost curve bounded by the quantities produced by competitive and monopoly markets.