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

Author Question: If a rise in the price of good 1 decreases the quantity of good 2 demanded A) the cross ... (Read 154 times)

tnt_battle

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
If a rise in the price of good 1 decreases the quantity of good 2 demanded
 
  A) the cross elasticity of demand is negative.
  B) the cross elasticity of demand is positive.
  C) good 1 is an inferior good.
  D) good 2 is an inferior good.

Question 2

The small town of Narberth has two pizza stores. Which of the following statements are CORRECT?
 
  I. The profits of each store depend on the price of the pizza at the other store.
  II. Both stores would increase their profit if they cooperated in setting their prices.
  A) I only
  B) II only
  C) Both I and II
  D) Neither I nor II


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mk6555

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


tnt_battle

  • Member
  • Posts: 556
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan). Jeremy Deller, A Good Day for Cyclists (painted by Sarah Tynan).
Barriers that a drug administered by the oral route must cross before interacting with a target ... Barriers that a drug administered by the oral route must cross before interacting with a target ...
Mechanism of penicillin: (a) Bacterial cell wall strengthened by peptide cross-links. (b) Penicillin ... Mechanism of penicillin: (a) Bacterial cell wall strengthened by peptide cross-links. (b) Penicillin ...
A cross-sectional view of a typical zirconia oxygen sensor. A cross-sectional view of a typical zirconia oxygen sensor.
Capital’s Share of Income in a Cross-Section of Countries Capital’s Share of Income in a Cross-Section of Countries
Cross-Cutting Relationships Cross-Cutting Relationships
Video: Vascular tissues in a corn stem and a buttercup root

For a complete list of videos, visit our video library