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Author Question: If the cross elasticity of demand between coffee and tea is positive, an increase in the price of ... (Read 109 times)

kodithompson

  • Hero Member
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  • Posts: 566
on: Jun 29, 2018
If the cross elasticity of demand between coffee and tea is positive, an increase in the price of tea will shift the demand curve for
 
  A) tea rightward.
  B) tea leftward.
  C) coffee rightward.
  D) coffee leftward.

Question 2

The magnitude of the slope of the budget line is equal to the ________ or ________ of the good plotted on the ________ in terms of the other good.
 
  A) relative price; marginal cost; y-axis
  B) relative price; total cost; y-axis
  C) relative price; opportunity cost; x-axis
  D) price; opportunity cost; x-axis


wergv

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  • Posts: 365
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

C


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