____ is the act of buying a commodity in one market at a lower ...

[karen]

____ is the act of buying a commodity in one market at a lower price and selling it in another market at a higher price.
 a. Buying short.
  b. Discounting.
  c. Tariffing.
  d. Arbitrage.

Question 2

Assume the price of Nikes decreases. As a result, consumers increase the quantity of Nikes purchased each year and purchase fewer Reeboks. This is an example of the:
 a. substitution effect.
  b. income effect.
  c. utility effect.
  d. consumption effect.

[Briannahope]

Answer to Question 1

d

Answer to Question 2

a

[karen]

Gracias!

[robbielu01]

Excellent