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Author Question: Blue pens and black pens are close substitutes. The cross elasticity of demand for black pens with ... (Read 320 times)

lilldybug07

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on: Jun 29, 2018
Blue pens and black pens are close substitutes. The cross elasticity of demand for black pens with respect to the price of blue pens is ________.
 
  A) positive
  B) negative
  C) equal to 1
  D) zero

Question 2

The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal cost is ________ per pound of cookies.
 
  A) 11
  B) 15
  C) 24
  D) 39


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xMRAZ

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

A

Answer to Question 2

B


lilldybug07

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

gcook

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Reply 3 on: Yesterday
Excellent

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