What factors are held constant along a given demand curve for a good?

Select one:

a. the price of the good.

b. the cost of inputs.

c. the supply of the good.

d. buyers' income and the prices of other goods.

e. counter cyclical.

Victor does not understand market structures well. For example, he has no idea where a perfectly competitive firm produces in the long run. You tell Victor they produce where:

Select one:

a. own price elasticity equals zero.

b. Average Total costs equals zero.

c. Marginal Costs are minimized.

d. Average Total Costs are minimized.

For most goods and most people, marginal utility probably:

Select one:

a. continues to increase as larger quantities are purchased and consumed.

b. drops significantly after the first few unites but soon beings to rise.

c. declines as consumption increases.

d. is negative after the first unit of a good is purchased.

e. is positive and rising for most goods.

Which of the following pairs of goods are probably complements?

Select one:

a. Electricity and natural gas.

b. Butter and margarine.

c. Steak and chicken.

d. Ketchup and French fries.