Suppose the demand for wheat increased only slightly only slightly between 1950 and 2000 but the equilibrium quantity increased dramatically dramatically. absent any other changes, what could explain the large large increase in the equilibrium quantity? the equilibrium quantity of wheat could have increased dramatically dramatically given a slight slight increase in demand because
a. the income elasticity of demand is negative.
b. the cross-price elasticity of demand is positive.
c. supply is relatively elastic elastic.
d. the price elasticity of demand is infinite.
e. the price elasticity of supply is equal to zero zero.

What are the general categories of capital budget scenarios? describe the overall decision-making context for each.

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.