The cross price elasticity for Papa John's pizza for a change in the price of Pizza Hut pizza is likely to be
A. negative but less negative than -1.
B. negative and more negative than -1.
C. zero.
D. positive.
Answer: D
You might also like to view...
When the Fed sells foreign assets and buy domestic assets at the same time,
A) its assets and liabilities rise by the same amount. B) its assets and liabilities fall by the same amount. C) the composition of its assets changes, but its liabilities are unaffected. D) the composition of its liabilities changes, but its assets are unaffected.
The hot spot problem is:
a. the U.S. obtains the majority of its oil supplies from politically unfriendly countries. b. some air pollutants such as sulfur dioxide have a greater effect nearby than further away. c. some air pollutants such as carbon dioxide have an equal effect nearby and further away. d. nuclear plants heat up nearby water, causing a decline in the native fish population.
An decrease in taxes combined with a decrease in government purchases would: a. increase AD
b. decrease AD. c. leave AD unchanged. d. have an indeterminate effect on AD.
Assume the price of cola is $8 per unit and the price of pretzels is $4 per unit.Table 19.3Michael's Utility ScheduleUnits of ColaTU of ColaMU of ColaUnits of PretzelsTU of PretzelsMU of Pretzels14040130302 322 2039624366164112 478 5124 584 In Table 19.3, what is the marginal utility of the fifth unit of cola?
A. 24. B. 6. C. 12. D. 16.