Which of these measures the responsiveness of the quantity of one ...

[go.lag]

Which of these measures the responsiveness of the quantity of one good demanded to an increase in the price of another good?
 
  A) price elasticity.
  B) income elasticity.
  C) cross-price elasticity.
  D) cross substitution elasticity.

Question 2

Due to externalities generated by home landscaping, its price
 
  A) is above the optimal level, and quantity that is below the optimal level.
  B) is below the optimal level, and quantity that is above the optimal level.
  C) and quantity traded are both above the optimal level.
  D) and quantity traded are both below the optimal level.
  E) must fall in order for the market to reach equilibrium.

[aadams68]

Answer to Question 1

C

Answer to Question 2

D

[go.lag]

Wow, this really help

[Dominic]

Thanks for the timely response, appreciate it