Author Question: Suppose the manager of a store wants to know whether the product of the store across the street is a ... (Read 55 times)

JMatthes · **on:** Jun 30, 2018

Suppose the manager of a store wants to know whether the product of the store across the street is a substitute for her product. In other words, she would need to know if the _____ for the products is positive.
a. cross-price elasticity of demand
b. price elasticity of demand
c. income elasticity of demand
d. price elasticity of supply
e. cross-price elasticity of supply

Question 2

Economic profit always exceeds accounting profit.
a. True
b. False
Indicate whether the statement is true or false