This topic contains a solution. Click here to go to the answer

Author Question: Suppose the cross-elasticity of demand for two goods, domestic cheese and imported cheese, is ... (Read 21 times)

mustachegiraffe

  • Full Member
  • ***
  • Posts: 179

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.


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
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
YES! Correct, THANKS for helping me on my review


DylanD1323

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Excellent

 

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

For a complete list of videos, visit our video library