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  When the price of an eraser increases from $1.50 to $2.50, the quantity demanded of pencils is unchanged. The cross-price elasticity of demand between erasers and pencils is ________ because erasers and pencils are ________.  

The following graph represents Zendar’s labor market. Use this graph to answer the next five questions.   What is the equilibrium number of workers in Zendar?  

All expense accounts have a normal debit balance. 

The left hand side of the T account is the __________ side.

  The practice of setting prices deliberately below average variable costs to put a rival out of business is known as  

  The fact that diamonds command a much higher market price than a gallon of water indicates that  

Consider the following data, which show the quantities and prices of two goods produced in an economy, to answer the next three questions. Quantity produced Price Wheat 50 million bushels $2/bushel Televisions 1 million $500/televisionThe market value of wheat production is

  If a firm is expanding and needs to hire more workers, the __________ curve for labor in the surrounding area will shift __________ causing the equilibrium wage to __________ and the equilibrium quantity of workers to __________.  

Owner’s Equity has two accounts. The Owner’s Capital account, which has a normal ___________ balance and the Owner’s Drawing account which has a normal ___________ balance.

  Each firm in a perfectly competitive industry