« previous next »

Author Question: Cross-price elasticity of demand is used to determine whether a. a product is an inferior or normal ... (Read 84 times)

kellyjaisingh

  • Hero Member
  • *****
  • Posts: 540
on: Jul 1, 2018
Cross-price elasticity of demand is used to determine whether
 a. a product is an inferior or normal good
  b. a product is a necessity or a luxury
  c. two products are substitutes or complements
  d. price and total revenue are directly or inversely related
  e. the product's demand curve is linear

Question 2

If the cross-price elasticity of demand is -3, then the goods are __________ and the consumers' responsiveness would be characterized as __________.
 a. substitutes; inelastic
  b. substitutes; elastic
  c. substitutes; unit elastic
  d. complements; inelastic
  e. complements; elastic
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


k2629

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

A normal pregnancy. A normal pregnancy.
A schematic cross section of the spinal cord and the dorsal and ventral roots. A schematic cross section of the spinal cord and the dorsal and ventral roots.
Changes in bronchioles during an asthma attack: (a) normal bronchiole; (b) asthmatic bronchiole. Changes in bronchioles during an asthma attack: (a) normal bronchiole; (b) asthmatic bronchiole.
Find derivative using product rule Find derivative using product rule
Cross-regulatory interactions among gap genes Cross-regulatory interactions among gap genes
Normal karyotype of a human male Normal karyotype of a human male
Video: DNA Replication Factory and Protein

For a complete list of videos, visit our video library