In the above table, the cross price elasticity of demand for good X with good Y when PY falls from $20 to $18 is
A) -2.
B) 0.
C) +1.
D) -1.
C
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When existing firms lose customers and profits due to entry of a new competitor, a
a. predatory-pricing externality occurs. b. consumption externality occurs. c. business-stealing externality occurs. d. product-variety externality occurs.
Which is true of a single price monopoly firm?
A. Its supply curve is equal to its marginal cost function. B. It creates more welfare loss to society than a perfect price discriminating monopolist. C. An increased profits tax will lower the quantity the firm will produce. D. Its shutdown point is where ATC = price.
At the end of 2007, the government had a debt of about $5,000 billion. During 2007, real GDP grew by about 0.8 percent and inflation was about 2.7 percent. About what is the largest deficit the government could have run without raising the debt-to-GDP ratio?
a. 135 billion b. 143 billion c. 169 billion d. 175 billion
The United Nations' goal of reducing the global rate of extreme poverty to 15 percent by 2015 is known as the
A. United Nations' Poverty Goal. B. World Poverty Goal. C. Global Poverty Goal. D. Millennium Poverty Goal.