The cross-price elasticity of demand for Personal Computers and the number of keyboards is likely to...
The cross-price elasticity of demand for Personal Computers and the number of keyboards is likely to be:
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greater than zero. |
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less than zero. |
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zero. |
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infinity. |
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The cross-price elasticity of demand for Personal Computers and
the number of keyboards is likely to...
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....
1. If a good has a price elasticity of demand equal to 0, ________. a) the...
1. If a good has a price elasticity of demand equal to 0, ________. a) the smallest increase in its price will cause consumers to stop consuming it completely b) the quantity demanded of the good will be completely unaffected by a change in its price c) the demand curve for the good will be upward-sloping 2. At the midpoint of a downward-sloping, linear demand curve for a good, the price elasticity of demand for the good is ________. a)...
Price elasticity of demand for a product is likely to be greater the smaller the proportion...
Price elasticity of demand for a product is likely to be greater the smaller the proportion of one`s incomes is spent on the good the greater the amount of time passes the fewer the number of substitutes if the product is a necessity rather than a luxury The demands for such products as salt and electricity tend to be: perfectly price elastic. relatively price inelastic. relatively price elastic. of unit price elasticity.
QUESTION 47 zero. The cross price elasticity for Coke for a change in the price of...
QUESTION 47 zero. The cross price elasticity for Coke for a change in the price of Pepsi is likely to be negative but less negative than - I. positive negative and more negative than -1. QUESTION 48 negative and more negative than-1. The cross price elasticity for Papa John's pizza for a change in the price of Pizza Hut pazais negative but less negative than-1. zero. positive.
26)What pair of goods is likely to have the largest cross-price elasticity in absolute value? Multiple...
26)What pair of goods is likely to have the largest cross-price elasticity in absolute value? Multiple Choice a)Ramen noodles and a Rolex watch b)Cross-price elasticity is always negative, and simply reported in absolute value. c)Butter and margarine d)Peanut butter and jelly 27)If the price of butter increases 5 percent and the amount of margarine purchased increases 25 percent, then the cross-price elasticity of these goods is: Multiple Choice a)0.2. b)- 0.2. c)5. d)- 5. 28)The determinants of price elasticity of...
the price elasticity of demand measures the responsiveness of the change in the
22. The price elasticity of demand measures the responsiveness of the change in the: A) quantity demanded to a change in the price. B) price to a change in the quantity demanded. C) lope re enterprise D) slope of the demand curve to a change in the quantity demanded. 23. The price of gasoline rises 5% and the quantity of gasoline purchased falls 1%. price elasticity of demand is equal to _______ and demand is described as _______ A) 0.2; inelastic B) 5; inelastic C) 0.2; elastic 24. For a...
At the midpoint of a straight-line demand curve, the price elasticity of demand is: Select one:...
At the midpoint of a straight-line demand curve, the price elasticity of demand is: Select one: a. greater than one. b. less than one. c. equal to one. d. zero.
A good is considered normal when its income elasticity of demand is ___ and inferior when the...
A good is considered normal when its income elasticity of demand is ___ and inferior when the its income elasticity of demand is ___. Greater than zero, less than zero. Less than zero, greater than zero. Greater than one, less than one. Less than one, greater than one. If an increase in prices decreases total revenue in the short run, what will it do to total revenue in the long run? It will decrease total revenue in the long run. It...
The average price for personal computers has recently decreased from $300 to $250. As a result,...
The average price for personal computers has recently decreased from $300 to $250. As a result, the quantity of personal computers bought has increased by 20 percent. What would be the price elasticity of demand for personal computers?
JCN Industries normally produces and sells 5,000 keyboards for personal computers each month. Variable manufacturing costs...
JCN Industries normally produces and sells 5,000 keyboards for personal computers each month. Variable manufacturing costs amount to $25 per unit, and fixed costs are $146,000 per month. The regular sales price of the keyboards is $86 per unit. JCN has been approached by a foreign company that wants to purchase an additional 1,000 keyboards per month at a reduced price. Filling this special order would not affect JCN 's regular sales volume or fixed manufacturing costs. On the basis...
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....
QUESTION 47 zero. The cross price elasticity for Coke for a change in the price of Pepsi is likely to be negative but less negative than - I. positive negative and more negative than -1. QUESTION 48 negative and more negative than-1. The cross price elasticity for Papa John's pizza for a change in the price of Pizza Hut pazais negative but less negative than-1. zero. positive.
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