Homework Answers
When complementary good price changes then the change in the price and change in the market demand of the related good will move in the opposite direction.
Since ski trips and ski jacket are complements because these two goods are used together.
When the cross-price elasticity demand sign is negative, then both goods will be complementary goods.
The cross elasticity of demand for ski trips with respect to the price of a ski jacket is negative.
Hence option D is the correct answer.
Add Answer to:
please explain your answer :)
Ski trips and ski jackets are complements. The cross elasticity of...
QUESTION 24 if good A and good Bare complements, then the cross price elasticity of demand...
QUESTION 24 if good A and good Bare complements, then the cross price elasticity of demand of good A for a change in the price of good B negative, zero. positive and less than 1. positive and greater than 1. QUESTION 25 If good A and good B are substitutes, then the cross price elasticity of demand of good A for a change in the price of good Bis negative but less negative than-1. negative and more negative than-1. zero....
'Quiz: Ch. 19 Quiz Demand & Supi Elasticity This Question: 5 pts 8 of 20 (20...
'Quiz: Ch. 19 Quiz Demand & Supi Elasticity This Question: 5 pts 8 of 20 (20 comple If movie tickets and DVD rentals are substitute goods, we can conclude that the O A. income elasticity of demand is negative. O B. cross price elasticity of demand is zero. O C. income elasticity of demand is positive. OD. cross price elasticity of demand is positive. O E. cross price elasticity of demand is negative. Click to select your answer.
The cross-elasticity of demand is _________ for substitutes and ___________ for complements. A. the same, negative...
The cross-elasticity of demand is _________ for substitutes and ___________ for complements. A. the same, negative B. positive, the same C. positive, negative D. negative, positive
Please help with these questions: Explain cross elasticity of demand. How is it is used to...
Please help with these questions: Explain cross elasticity of demand. How is it is used to determine substitute or complementary products? Explain why a negative sign refers to a complimentary good. Explain why a positive sign refers to a substitute good. Explain what a cross-price elasticity of -5.50 means. Explain what a cross-price elasticity of 0.50 means.
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.
The cross price elasticity of demand for peanut butter and jelly is: Select one: O a....
The cross price elasticity of demand for peanut butter and jelly is: Select one: O a. Positive O b. Negative O c. Zero O d. There is no relationship ge hort Answers Jump to...
2. Which of the following statements is true? A) The price elasticity of demand is positive...
2. Which of the following statements is true? A) The price elasticity of demand is positive when there is an inverse relationship between price and quantity demanded. B) A positive income elasticity indicates that demand for a good rises as consumer income falls C) A positive cross-price elasticity for two goods A and B would arise if A and B were demand complements. D) A negative cross-price elasticity for two goods A and B would arise if A and B...
Question 3 The cross-price elasticity of demand between rifles and bullets is likely to be: negative,...
Question 3 The cross-price elasticity of demand between rifles and bullets is likely to be: negative, because the goods are complements. positive, because the goods are complements. O positive, because the goods are substitutes. negative, because the goods are substitutes O « Previous No new data to save. Last checked at 12:02pm S O O c. A # 3 $ 4 % 5 c N 2 6 7 8 9 w e 0 t t у u
Please help with these questions Question 46 0.4 pts When two goods are complements to each...
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
When the income elasticity of demand for a good is negative, one can correctly conclude that:...
When the income elasticity of demand for a good is negative, one can correctly conclude that: total revenue will decrease when the price increases. the good is a substitute. the good is a complement. the good is a normal good. the good is an inferior good. As the price is raised along a straight-line demand curve, the demand curve becomes more elastic. True False Income elasticity of demand is expected to be _____. relatively high for necessities relatively low for...
QUESTION 24 if good A and good Bare complements, then the cross price elasticity of demand of good A for a change in the price of good B negative, zero. positive and less than 1. positive and greater than 1. QUESTION 25 If good A and good B are substitutes, then the cross price elasticity of demand of good A for a change in the price of good Bis negative but less negative than-1. negative and more negative than-1. zero....
'Quiz: Ch. 19 Quiz Demand & Supi Elasticity This Question: 5 pts 8 of 20 (20 comple If movie tickets and DVD rentals are substitute goods, we can conclude that the O A. income elasticity of demand is negative. O B. cross price elasticity of demand is zero. O C. income elasticity of demand is positive. OD. cross price elasticity of demand is positive. O E. cross price elasticity of demand is negative. Click to select your answer.
The cross price elasticity of demand for peanut butter and jelly is: Select one: O a. Positive O b. Negative O c. Zero O d. There is no relationship ge hort Answers Jump to...
2. Which of the following statements is true? A) The price elasticity of demand is positive when there is an inverse relationship between price and quantity demanded. B) A positive income elasticity indicates that demand for a good rises as consumer income falls C) A positive cross-price elasticity for two goods A and B would arise if A and B were demand complements. D) A negative cross-price elasticity for two goods A and B would arise if A and B...
Question 3 The cross-price elasticity of demand between rifles and bullets is likely to be: negative, because the goods are complements. positive, because the goods are complements. O positive, because the goods are substitutes. negative, because the goods are substitutes O « Previous No new data to save. Last checked at 12:02pm S O O c. A # 3 $ 4 % 5 c N 2 6 7 8 9 w e 0 t t у u
Please help with these questions
Question 46 0.4 pts When two goods are complements to each other, the cross-price elasticity will O begin by being positive but becomes negative over time. O be negative. be zero. O be positive. O be unaffected by goods being complements. Question 47 0.4 pts An economist's use of experiments and real-world data to test a theory is an example of the scientific method in economics. O comparative advantage. O normative analysis economic growth. macroeconomics....
Most questions answered within 3 hours.
-
Question 4. Using your knowledge of IS-LM, solve the following:
8
12
1+r 1+r
(a) If...
asked 1 minute from now -
Paige's Properties Inc. reported 2018 net income of $2.90
million and depreciation of $269,000. Paige's Properties,...
asked 7 minutes ago -
Need help with drawing the mechanism of succinic anhydride to
succinimide via ammonia and heat. Kind...
asked 8 minutes ago -
Using loops, write a C# program that asks the user to
enter repeatedly an integer number,...
asked 13 minutes ago -
A researcher conducts an experiment comparing three treatment
conditions. The data consist of n = 34...
asked 31 minutes ago -
A generating station is producing 1.8 x 106 W of power that is
to be sent...
asked 22 minutes ago -
Consider the reaction Mg(s)+Fe2+(aq)→Mg2+(aq)+Fe(s) at 49 ∘C ,
where [Fe2+]= 3.30 M and [Mg2+]= 0.210 M...
asked 23 minutes ago -
Of men aged 65 and over 20.5% are still in the US labor force. A
random...
asked 40 minutes ago -
A bag contains 80 balls numbered 1, . . . , 80. Before the game
starts,...
asked 1 hour ago -
2)Calculate the molar mass of an unknown gas with a mass of
0.462 grams that occupies...
asked 55 minutes ago -
The solubility of lead sulphate, PbSO4, is 4.25 x
10-3 g per 100 mL of solution....
asked 58 minutes ago -
Which one of the following aqueous solutions will have a pH of
0.00 at 25 °C?...
asked 59 minutes ago