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Author Question: Microsoft raises the price of its Office software by 10 percent. As a result, the quantity of ... (Read 80 times)

Alygatorr01285

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on: Jun 29, 2018
Microsoft raises the price of its Office software by 10 percent. As a result, the quantity of personal computers demanded at the current price decreases by 5 percent.
 
  What is the cross elasticity of demand for personal computers with respect to the price of Microsoft Office software? A) -2.0
  B) -0.5
  C) 0.5
  D) 2.0

Question 2

The more ________, the larger is the amount of the tax on the good that the ________ pays.
 
  A) elastic the demand for a good; buyers
  B) inelastic the demand for a good; buyers
  C) inelastic the supply of a good; buyers
  D) elastic the supply of a good; sellers


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vish98

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Alygatorr01285

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Bigfoot1984

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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