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Author Question: If peanut butter and jelly are complements, then their cross elasticity of demand must be A) ... (Read 197 times)

nautica902

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on: Jun 29, 2018
If peanut butter and jelly are complements, then their cross elasticity of demand must be
 
  A) infinitely high.
  B) a positive number that might be greater than 1.
  C) a number between zero and one.
  D) a negative number.

Question 2

If the price of gasoline increases and the price of food remains the same, then real income measured in terms of
 
  A) gasoline increases.
  B) gasoline decreases.
  C) food increases.
  D) food decreases.


kaillie

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

D

Answer to Question 2

A


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