Q1. If American cheese also cheddar cheese are substitute afterward which of the following would increase the demand for cheddar cheese?
Q2. If the price of a Sharpie marker goes from $1 to $3 also the producer changes the supply from 1000 markers to 5000 Illustrate what type of elasticity is this?
Q3. A rancher raises sheep. Once a year he shears them also sells the raw wool to a processor who cleans it also spins it into yarn. The yarn is then sold to a knitting mill, which produces also sells sweaters. In calculating GDP we would count
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