This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the cross-elasticity of demand for two goods, domestic cheese and imported cheese, is ... (Read 32 times)

mustachegiraffe

  • Full Member
  • ***
  • Posts: 179
on: Oct 12, 2022

Question 1

The price of apples at a local market rises from $2.95 to $3.05 per kilogram, and as a result the quantity of oranges that households purchase increases from 3950 to 4050 kilograms per week. The cross-price elasticity is
◦ 0.75.
◦ 1.5.
◦ -1.33.
◦ 1.33.
◦ -0.75.

Question 2

Suppose the cross-elasticity of demand for two goods, domestic cheese and imported cheese, is positive. If the price of imported cheese falls, then quantity demanded will
◦ rise for both domestic and imported cheese.
◦ fall for domestic cheese and rise for imported cheese.
◦ fall for both domestic and imported cheese.
◦ rise for domestic cheese and fall for imported cheese.
◦ There is not enough information to answer this question.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mustachegiraffe on Oct 12, 2022

jbsuccess1

  • Full Member
  • ***
  • Posts: 158
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


mustachegiraffe

  • Member
  • Posts: 179
Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Bone Cross-section Bone Cross-section
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Trihybrid Cross Trihybrid Cross
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Dominican Mamajuana with crackers and cheese Dominican Mamajuana with crackers and cheese
Video: Haustral churning, Gastrocolic reflex and mass peristalsis & Defecation

For a complete list of videos, visit our video library