When the price of product R decreases from $46 to $40, the quantity demanded of product S increases from 13,000 to 15,500. Based on this, the cross elasticity of demand of products R and S is _____ and these two products are _____.

Good X and Good Y are substitutes. If the price of Good Y decreases, then the market for Good X is likely to experience a(n) _____ in equilibrium price and a(n) _____ in equilibrium quantity.

Based on the information in the above table, when price changes from $4 to $2 demand is:

Economic efficiency is maximized where:

When the price of product A increases from $11 to $13, the demand for product B decreases from 53 to 47. The cross elasticity of demand between product A and product B is _____ and these two products are _____.

When the government sets a price ceiling in a free market, the result is likely to be _____ of output in the market.

Based on the information in the above table, the Marginal Physical Product of the 2nd worker = _____. (Enter only the value).

When labor costs make up _____ of total costs, the elasticity of labor demand is likely to be _____. (Check all that apply.)

Which of the following can a business do in the long run? (Check all that apply.)

Check all of the following that can be considered “capital”: