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 122 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
Gracias!

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

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?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Stages of a Neurospora cross Stages of a Neurospora cross
Cross-Section of a Banana Under a Microscope Cross-Section of a Banana Under a Microscope
Cross-fiber friction to the paraspinal muscles. Friction is created by moving the more superficial ... Cross-fiber friction to the paraspinal muscles. Friction is created by moving the more superficial ...
The Rise and Fall of Separation Anxiety The Rise and Fall of Separation Anxiety
The monohybrid cross between tall (D) and dwarf (d) pea plants The monohybrid cross between tall (D) and dwarf (d) pea plants
Video: Stroke volume

For a complete list of videos, visit our video library