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Author Question: Based on the following pieces of information, which fast food product do consumers see as the ... (Read 167 times)

sammy

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on: Jun 29, 2018
Based on the following pieces of information, which fast food product do consumers see as the closest substitute for Wendy's Hamburgers?
 
  A) Kentucky Fried Chicken, which has a cross elasticity of 1.70 with Wendy's
  B) McDonald's hamburgers, which have a cross elasticity of 1.01 with Wendy's
  C) Pizza Hut pizza, which has a cross elasticity of zero with Wendy's
  D) Taco Bell tacos, which have a cross elasticity of -1.25 with Wendy's

Question 2

In the above table, what is marginal product of labor for the 2nd worker?
 
  A) 20
  B) 8
  C) 10
  D) 12


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JaynaD87

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


sammy

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Zebsrer

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Reply 3 on: Yesterday
Excellent

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