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Author Question: If the demand curve for a good always has unitary price elasticity, what does this imply about ... (Read 91 times)

vicotolentino

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on: Mar 14, 2021

Question 1

If the cross price elasticity of two goods is -3.5, then
◦ these two products are relatively elastic substitutes.
◦ these two products are relatively inelastic substitutes.
◦ these two products are relatively elastic complements.
◦ these two products are relatively inelastic complements.

Question 2

If the demand curve for a good always has unitary price elasticity, what does this imply about consumer behavior?
◦ Consumers do not react to a price change.
◦ Consumers will spend a constant total amount on the good.
◦ Consumers are irrational.
◦ Consumers do not obey the Law of Demand.
Managerial Economics and Strategy ¦ Perloff, Brander ¦ 3rd Edition
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Marked as best answer by vicotolentino on Mar 14, 2021

cici

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Reply #1 on: Mar 14, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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vicotolentino

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Reply 2 on: Mar 14, 2021
:D TYSM

Kedrick2014

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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