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

Author Question: Suppose the cross-elasticity of demand for two goods, domestic cheese and imported cheese, is ... (Read 59 times)

mustachegiraffe

  • Full Member
  • ***
  • Posts: 179
on: Oct 12, 2022

Question 1

The price of apples at a local market rises from $2.95 to $3.05 per kilogram, and as a result the quantity of oranges that households purchase increases from 3950 to 4050 kilograms per week. The cross-price elasticity is
◦ 0.75.
◦ 1.5.
◦ -1.33.
◦ 1.33.
◦ -0.75.

Question 2

Suppose the cross-elasticity of demand for two goods, domestic cheese and imported cheese, is positive. If the price of imported cheese falls, then quantity demanded will
◦ rise for both domestic and imported cheese.
◦ fall for domestic cheese and rise for imported cheese.
◦ fall for both domestic and imported cheese.
◦ rise for domestic cheese and fall for imported cheese.
◦ There is not enough information to answer this question.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mustachegiraffe on Oct 12, 2022

jbsuccess1

  • Full Member
  • ***
  • Posts: 158
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


mustachegiraffe

  • Member
  • Posts: 179
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

A cross section of a typical wax-actuated thermostat showing the position of the wax pellet and ... A cross section of a typical wax-actuated thermostat showing the position of the wax pellet and ...
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
The monohybrid cross between tall and dwarf pea plants The monohybrid cross between tall and dwarf pea plants
Analysis of a dihybrid cross involving two traits. Each trait is analyzed separately, then the frequ Analysis of a dihybrid cross involving two traits. Each trait is analyzed separately, then the frequ
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
Video: Osmosis - water transport

For a complete list of videos, visit our video library