Question

Please help with these questions:

Answer 1

Answer 7 -

D ) cross price elasticity is the percentage change in demand for one good divided by percentage change in price of other good .

= % change in demand of Good B/ % change in price of good A

Answer 8 -

A) cross price elasticity of demand

Answer 11-

D) As price elasticity of supply increases the overall supply curve becomes more horizontal.Suppliers are able and willing to supply any quantity at the given price but none at a different price.

Answer 12-

E)when two goods are unrelated the cross price elasticity between them is zero as change in price of one good will nnotot have any change in quantity of other good.