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Author Question: If the cross-price elasticity of demand between two goods is positive, then a. consumers are being ... (Read 167 times)

sabina

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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


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Jbrasil

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


sabina

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  • Posts: 563
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

hramirez205

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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