Suppose that when price is $10, quantity supplied is 20. When price is $6, quantity supplied is 12 units. The price elasticity of supply is:

Exhibit 3-2 Demand curves In Exhibit 3-2, the shift in the demand curve from D1 to D2 could have been caused by which of the following?

The law of demand shows that:

Suppose that the quantity of apples sold increases by 30 percent after the price of pears increases by 15 percent. What is the coefficient of cross elasticity of demand?

In the long run, price elasticities of demand are usually:

Which statement about the total variable cost curve is true?

The marginal utilities associated with the first 4 units of consumption of good Y are 10, 12, 9, and 7, respectively. What is the total utility associated with the third unit?

When the marginal cost is higher than the average total cost, 

The change in total cost that results from the production of one additional unit is called:

If the quantity of bananas sold increases by 5 percent when the price decreases by 10 percent, the price change occurs in the: