Which of the following combinations of goods is in line with a cross-price elasticity equal to zero?
A) Pancakes and maple syrup B) Kentucky fried chicken and Dove deodorant
C) Pepsi and Dr. Pepper D) None of the above
Answer: B
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In the neoclassical growth model without technological progress, in the steady-state the level of capital increases at
a. the growth of technology plus the growth of population. b. the growth of technology plus the growth of population plus depreciation. c. the growth of technology. d. the growth of population.
Price floors are typically accompanied by a standard series of symptoms. What are they?
At the optimal or efficient level of an activity, the activity's marginal benefit must
A) be zero. B) be greater than zero. C) equal the marginal cost of the activity. D) exceed the marginal cost of the activity.
Figure 12.8 depicts an advertising game between two stores. "No advertising" is:
A. a dominant strategy for Store A but not for Store B. B. a dominant strategy for Store B but not for Store A. C. a dominant strategy for both stores. D. a dominant strategy for neither store.