If the cross-price elasticity for two different goods is equal to 1.3, what type of goods...
If the cross-price elasticity for two different goods is equal to 1.3, what type of goods are these? Select one: a. substitutes b. normal c. inferior d. complements
Homework Answers
As the cross price elasticity of two goods are positive the goods are substitute i.e. when the price for a good increase the demand for the other good increase.
the answer is "A",Substitute.
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If the cross-price elasticity for two different goods is equal
to 1.3, what type of goods...
the cross-price elasticity for two different goods is equal to 1.3, what type of goods are...
the cross-price elasticity for two different goods is equal to 1.3, what type of goods are these? Select one: O a. substitutes O b. normal c. inferior O d. complements rs Jump to...
5. The cross-price elasticity of demand between good A and good B is -1.4. These goods...
5. The cross-price elasticity of demand between good A and good B is -1.4. These goods are: A. Complements B. Substitutes C. Unrelated Goods D. Inelastic Goods 6. Income elasticity of demand for streaming video is 0.5, which indicates that streaming video is a: A. Normal good B. Inferior good C. Not good D. Can't say for sure 7. When the price of sriracha increases by 15%, you observe quantity supplied increase by 25%. Elasticity of supply is: A. 0.6...
1) A negative cross-elasticity of demand means that the goods in question are _____ while a...
1) A negative cross-elasticity of demand means that the goods in question are _____ while a negative income elasticity means that the good in question is a(n) _____. substitutes; normal good substitutes; inferior good complements; normal good complements; inferior good 2) Alex finds a new job as an economist at a factory that makes two types of chips: computer and potato. Alex calculates the cross elasticity of demand between computer and potato chips to be a very small negative number....
Cross-price elasticity measures the relationship between: a. normal goods and inferior goods. b. complements and inferior...
Cross-price elasticity measures the relationship between: a. normal goods and inferior goods. b. complements and inferior goods. c. necessities and luxuries. d. two goods and services. e. income and substitute goods.
If the cross-price elasticity between good A and good B is equal to this best indicates...
If the cross-price elasticity between good A and good B is equal to this best indicates that A and B are Select one: Ο Α. -0.5, weak substitutes. ОВ. 1.8, weak substitutes. OC. -3.5, strong complements. O D. 4.3, strong complements
QUESTION 32 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5....
QUESTION 32 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on this information, we know the goods are a complements b. inferior goods. c. substitutes. d. inelastic.
You manage a fast-food restaurant. What is the sign of the cross-price elasticity between soft drinks and cheeseburgers?...
You manage a fast-food restaurant. What is the sign of the cross-price elasticity between soft drinks and cheeseburgers? Why might you consider lowering the price of your cheeseburgers? Group of answer choices A. The cross-price elasticity is negative because these goods are substitutes. B. The cross-price elasticity is positive because these goods are complements. C. The cross-price elasticity is positive because these goods are substitutes. D. The cross-price elasticity is negative because these goods are complements.
1. For _____ goods, income elasticity is positive. Instructions: You may select more than one answer....
1. For _____ goods, income elasticity is positive. Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. a. normal b. necessity c. luxury d. inferior 2. If a good has an income elasticity of 1.83, then it: a. probably has a lot of close substitutes available. b. is an inferior good, and a necessity. c. is a normal good, and a...
QUESTION 18 If the cross price elasticity of two goods is -3.5, then these two products...
QUESTION 18 If the cross price elasticity of two goods is -3.5, then these two products are relatively inelastic complements. these two products are relatively elastic substitutes. these two products are relatively elastic complements. these two products are relatively inelastic substitutes. QUESTION 19 A monopolist faces the inverse demand curve p = 60 - Q. It has varia Click Save and Submit to save and submit. Click Save All Answers to sau lenovo Esc F1 12 13 F5 (0)
The table shown lists two goods along with their cross-price elasticities, where the percentage change in...
The table shown lists two goods along with their cross-price elasticities, where the percentage change in quantity is measured for Good 1 and the percentage change in price is for Good 2. Identify the relationship between each of the pairs of goods. Good 1 Good 2 Cross-price elasticity of demand Relationship air-conditioning units electricity −0.38 Coca-Cola Pepsi +0.67 coffee creamer −0.25 McDonald's burgers In-N-Out burgers +0.82 mystery good A mystery good B +1.57 Answer Bank substitutes complements normal no relationship...
the cross-price elasticity for two different goods is equal to 1.3, what type of goods are these? Select one: O a. substitutes O b. normal c. inferior O d. complements rs Jump to...
5. The cross-price elasticity of demand between good A and good B is -1.4. These goods are: A. Complements B. Substitutes C. Unrelated Goods D. Inelastic Goods 6. Income elasticity of demand for streaming video is 0.5, which indicates that streaming video is a: A. Normal good B. Inferior good C. Not good D. Can't say for sure 7. When the price of sriracha increases by 15%, you observe quantity supplied increase by 25%. Elasticity of supply is: A. 0.6...
If the cross-price elasticity between good A and good B is equal to this best indicates that A and B are Select one: Ο Α. -0.5, weak substitutes. ОВ. 1.8, weak substitutes. OC. -3.5, strong complements. O D. 4.3, strong complements
QUESTION 32 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on this information, we know the goods are a complements b. inferior goods. c. substitutes. d. inelastic.
QUESTION 18 If the cross price elasticity of two goods is -3.5, then these two products are relatively inelastic complements. these two products are relatively elastic substitutes. these two products are relatively elastic complements. these two products are relatively inelastic substitutes. QUESTION 19 A monopolist faces the inverse demand curve p = 60 - Q. It has varia Click Save and Submit to save and submit. Click Save All Answers to sau lenovo Esc F1 12 13 F5 (0)
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