« previous next »

Author Question: If the cross elasticity of demand between coffee and tea is positive, an increase in the price of ... (Read 106 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
If the cross elasticity of demand between coffee and tea is positive, an increase in the price of tea will shift the demand curve for
 
  A) tea rightward.
  B) tea leftward.
  C) coffee rightward.
  D) coffee leftward.

Question 2

The magnitude of the slope of the budget line is equal to the ________ or ________ of the good plotted on the ________ in terms of the other good.
 
  A) relative price; marginal cost; y-axis
  B) relative price; total cost; y-axis
  C) relative price; opportunity cost; x-axis
  D) price; opportunity cost; x-axis


wergv

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Cross Section of a Synapse Cross Section of a Synapse
Cross Section of the Human Brain Cross Section of the Human Brain
Cross-Sectional Studies Cross-Sectional Studies
An organizational specialist is hired as a consultant to a company planning to open a coffee ... An organizational specialist is hired as a consultant to a company planning to open a coffee ...
Phenotype proportions in the progeny of a dihybrid cross performed by Mendel Phenotype proportions in the progeny of a dihybrid cross performed by Mendel
Cross-section of earthworm Cross-section of earthworm
Video: Introduction to Dysrhythmia

For a complete list of videos, visit our video library