Both income elasticity of demand and cross-price elasticity of ...

[JGIBBSON]

Both income elasticity of demand and cross-price elasticity of demand coefficients can take on negative, zero, or positive values.
 a. True
  b. False

Question 2

The most important determinant of price elasticity of supply is
 a. price elasticity of demand
  b. technological conditions such as how rapidly costs increase when a firm increases its output
  c. whether the production process relies heavily on capital or on labor
  d. the number and closeness of available substitutes
  e. whether the product is a normal good or an inferior good

[chloejackso]

Answer to Question 1

A

Answer to Question 2

B

[JGIBBSON]

Thanks for the timely response, appreciate it

[JaynaD87]

Wow, this really help