If the elasticity of demand for a good x and good y with respect to income are both positive, then based on this the goods are

If the price of a good is exactly equal to the maximum price a buyer will pay, then the buyer will not buy the good. receive the maximum consumer surplus. receive no marginal benefit from that unit of the good. receive no consumer surplus from that unit of the good.

The price elasticity of demand for food is ____ price elasticity of demand for pizza.

(This is an out-of-the-book question.) Using the “It’s not fair if the result isn’t fair” principle of fairness, an income tax designed to transfer wealth from the rich to the poor

Suppose that a 20% fall in the price of a good increases the quantity demanded by 10%. From this we can tell that the demand is ____ and the total revenue from sales of the good ___.

Tacos and soda are complements and soda falls in price. As a result, the price of a taco ____ and the quantity ____.

During the pandemic, the price of plywood skyrocketed. Plywood is used to construct houses. Consequently, the price of a house ____ and the quantity ____.

The price of chicken feed (the grain fed to chickens) rises while simultaneously the price of fish, a substitute for chicken falls. Consequently, the price of chickens ____ and the quantity ____.

The Calvin Cycle (Light Independent Reaction) is important in photosynthesis because it forms: 

In an experiment, the variable that is measured is the: