If one is interested in knowing whether or not a pair of products are substitutes, one would be interested in the value of the:
a. elasticity of supply

b. price elasticity of demand.
c. income elasticity of demand.
d. cross-price elasticity of demand.


d

Economics

You might also like to view...

Discuss some of the reasons behind downward stickiness of wages and prices

Economics

If a shift in SRAS results from gains in productivity growth, the effect will be

a. relatively small over a few months or even a couple of years. b. relatively large over a few months or even a couple of years. c. relatively small over a few months but larger over a couple of years. d. relatively large over a few months but smaller over a couple of years.

Economics

The sensitivity of one economic variable to changes in another variable is known as

a. the variability coefficient b. elasticity c. the sensitivity coefficient d. the cross-variability coefficient e. the law of demand

Economics

In one day Madison Laundry washed 4,000 pounds of laundry with 5 workers who each worked 8 hours. What was its productivity?

a. 4000 pounds of laundry b. 500 pounds of laundry per hour c. 100 pounds of laundry per hour d. None of the above is correct.

Economics