Refer to the above table. Suppose the price of B rises from $18 to $20. What is the cross price elasticity of demand between B and C?
A. -1.7273
B. -0.8947
C. +1.7273
D. -1.1176
Answer: D
You might also like to view...
Inflation makes it difficult to distinguish relative price changes from changes in the general level of prices. Consequently, inflation ________ the efficiency of the market system.
A. decreases B. does not change C. increases D. may either increase or decrease
Refer to Figure 2-11. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of cotton?
A) They have the same advantage. B) Pakistan C) Indonesia D) cannot be determined
Refer to the above figure. Which panel is consistent with the Fed buying bonds?
A) Panel A B) Panel B C) Panel C D) Panel D
Allocation schemes can be based on
A) prices. B) randomness. C) government decisions. D) all of these choices.