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

Author Question: If the cross-price elasticity of demand between two goods is positive, then a. consumers are being ... (Read 211 times)

sabina

  • Hero Member
  • *****
  • Posts: 563
on: Jul 1, 2018
If the cross-price elasticity of demand between two goods is positive, then
 a. consumers are being irrational
  b. supply is elastic
  c. the goods may have similar uses
  d. the goods may go well together in consumption
  e. one good must be a necessity

Question 2

If an increase in the price of peanut butter causes a decline in the demand for jelly, then
 a. the goods are substitutes
  b. jelly is an inferior good
  c. the goods are complements
  d. both goods are inelastic
  e. peanut butter is an inferior good


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jbrasil

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


sabina

  • Member
  • Posts: 563
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

matt95

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Nail structure, side view and cross-sectional view. Nail structure, side view and cross-sectional view.
Empathy draws a more positive response from the patient because it is based on the willingness of th Empathy draws a more positive response from the patient because it is based on the willingness of th
Positive and Negative Punishment Positive and Negative Punishment
Cross-Sectional Studies Cross-Sectional Studies
Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and
Anatomy of the Spinal Cord: Cross Section Through the Spinal Cord in the Cervical Region Anatomy of the Spinal Cord: Cross Section Through the Spinal Cord in the Cervical Region
Video: Primary Active Transport - electrochemical gradient and ion transport / water movement

For a complete list of videos, visit our video library