Which of the following statement is true? a. The demand for ...

[mynx]

Which of the following statement is true?
 a. The demand for Cheerios is less elastic than the demand for cereal
  b. The demand for gas is more elastic in the short-run than in the long-run
  c. The demand for puma shoes is more elastic than the demand for shoes
  d. Products with many complements have a more elastic demand

Question 2

Consider an investment with the following payoffs and probabilities: State of the Economy Probability Return Stability .50 1,000 Good Growth .50 2,000 Determine the expected return for this investment.
 a. 1,300
  b. 1,500
  c. 1,700
  d. 2,000
  e. 3,000

[Hdosisshsbshs]

Answer to Question 1

c

Answer to Question 2

b