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Author Question: Assume that product X has a negative cross elasticity with respect to shoes. If the price of shoes ... (Read 149 times)

erika

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on: Jun 30, 2018
Assume that product X has a negative cross elasticity with respect to shoes. If the price of shoes rises
 A) the demand for product X will decrease.
  B) the quantity demanded for product X will increase.
  C) the demand for shoes will fall.
  D) the demand for product X will increase.

Question 2

Which of the following observations concerning health care service providers is true?
 a. Health care providers possess very little market power.
 b. Price discrimination and collusive behavior are likely to occur.
  c. Price discrimination is uncommon in the pharmaceutical industry.
  d. Natural health care monopolies are a rarity.


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jordangronback

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

b


erika

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

gcook

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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