If a 1 percent decrease in the price of tennis rackets increases the quantity demanded of tennis balls 20 percent, the cross-price elasticity of demand is nothing. (Enter your response rounded to two decimal places and include a minus sign if necessary.) In this case, tennis rackets and tennis balls are considered to be.
Answer
-20
complement goods
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The cross-price elasticity of demand is -20 between the goods, The elasticity is negative so the goods are complements as the decrease in the price of one increases demand for other and vice verse.
If a 1 percent decrease in the price of tennis rackets increases the quantity demanded of...
(Enter your response rounded to If a 10 percent increase in the price of tennis rackets decreases the quantity demanded of tennis balls 15 percent, the cross-price elasticity of demand is two decimal places and include a minus sign if necessary.) In this case, tennis rackets and tennis balls are considered to be
Suppose the price of salt increases by 20 percent and, as a result, the quantity of pepper demanded (holding the price of pepper constant) increases by 6 percent. . (Enter your response rounded to two decimal The cross-price elasticity of demand between salt and pepper is places and include a minus sign if appropriate.)
Tennis balls and tennis rackets are commonly used together. A decrease in the price of tennis balls will result in: A) An increase in the demand for tennis balls. B) A decrease in the demand for tennis rackets. C) An increase in the quantity demanded for tennis balls. D) An increase in the quantity demanded for tennis rackets.
Suppose the price of salt increases by 20 percent and, as a result, the quantity of pepper demanded (holding the price of pepper constant) increases by 2 percent The cross-price elasticity of demand between salt and pepper is(Enter your response rounded to two decimal places and include a minus sign if appropriate) In this example, salit and pepper are Instead, suppose salt and pepper were complements. If so, then the cross-price elasticity of demand between salt and pepper would be...
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Suppose that legalizing the use of heroinheroin would decrease its price by 8181 percent. If the price elasticity of demand for heroinheroin is -2.502.50, what would be the percentage increase in the quantity of heroinheroin demanded from legalizing heroinheroin? nothing percent. (Enter a numeric response using a real number rounded to two decimal places.) Suppose instead that the price elasticity of demand for heroinheroin is -0.240.24. What would be the percentage increase in the quantity of heroinheroin demanded from legalizing...
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If the percent change in the quantity demanded for good X increases 10%, as the price of good Y increases 5%, how do X and Y relate, if at all. calculate the cross price elasticity of demand Microeconomics
Suppose income increases by 25 peroent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) increases by 1 percent The income elasticity of demand for this brand of car is (Enter your response rounded to two decimal places and include a minus sign if appropriate This partioular brand of automobile is ain) In another example, suppose market research shows that a partioular brand of truck is a normal...