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Author Question: Both income elasticity of demand and cross-price elasticity of demand coefficients can take on ... (Read 112 times)

JGIBBSON

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on: Jul 1, 2018
Both income elasticity of demand and cross-price elasticity of demand coefficients can take on negative, zero, or positive values.
 a. True
  b. False

Question 2

The most important determinant of price elasticity of supply is
 a. price elasticity of demand
  b. technological conditions such as how rapidly costs increase when a firm increases its output
  c. whether the production process relies heavily on capital or on labor
  d. the number and closeness of available substitutes
  e. whether the product is a normal good or an inferior good


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chloejackso

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


JGIBBSON

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  • Posts: 538
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

laurnthompson

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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