This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a rise in the price of good 1 decreases the quantity of good 2 demanded A) the cross ... (Read 132 times)

tnt_battle

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
If a rise in the price of good 1 decreases the quantity of good 2 demanded
 
  A) the cross elasticity of demand is negative.
  B) the cross elasticity of demand is positive.
  C) good 1 is an inferior good.
  D) good 2 is an inferior good.

Question 2

The small town of Narberth has two pizza stores. Which of the following statements are CORRECT?
 
  I. The profits of each store depend on the price of the pizza at the other store.
  II. Both stores would increase their profit if they cooperated in setting their prices.
  A) I only
  B) II only
  C) Both I and II
  D) Neither I nor II


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mk6555

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


tnt_battle

  • Member
  • Posts: 556
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

The percentage of never-married men and women decreases with age, and by the age of 65, more than ... The percentage of never-married men and women decreases with age, and by the age of 65, more than ...
Many electronic components are used to construct a typical vehicle computer. Notice the quantity of ... Many electronic components are used to construct a typical vehicle computer. Notice the quantity of ...
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
The monohybrid cross between tall (D) and dwarf (d) pea plants The monohybrid cross between tall (D) and dwarf (d) pea plants
A Punnett square can be used to derive the F2 ratios in a cross from the F1 generation. A Punnett square can be used to derive the F2 ratios in a cross from the F1 generation.
Video: Mendel's Principles of Inheritance (Father of Genetics)

For a complete list of videos, visit our video library