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Author Question: Other things equal, a country's long-run aggregate supply will shift to the right when the ... (Read 107 times)

mcmcdaniel

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on: Jun 30, 2018
Other things equal, a country's long-run aggregate supply will shift to the right when the productivity of labor rises.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Calculate the cross-price elasticity of demand between computers and printers, where a 10 percent decrease in the price of computers results in a 15 percent increase in the demand for printers.


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lucas dlamini

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

In this case, the cross-price elasticity of demand is -1.5.

Cross-price elasticity of demand = ( in the demand for good A) / ( in the price of B) = +15 -10 = -1.5


mcmcdaniel

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

olderstudent

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Reply 3 on: Yesterday
Excellent

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