Which of the following is an equation for cross-price elasticity of demand?
a. +30? ? +5% = +6
b. +30? + +5% = +35
c. +30? – +5% = +25
d. +30? × +5% = +150
a. +30? ? +5% = +6
You might also like to view...
Which of the following examples best describes the Law of Supply?
A) When the cost of production of cotton increased, all suppliers' willingness to accept decreased. B) When the market price of pens increased, sellers started supplying more pens. C) When the cost of production of cotton fell, the market price of cotton also fell. D) When the market price of pens increased, sellers started supplying fewer pens.
An event that allows the economy to operate more efficiently by producing more outputs without using any more inputs is referred to as:
A. absolute progress. B. efficiency progress. C. capital investment. D. technological progress.
Which of the following would be included when calculating Gross Domestic Product?
A. a Social Security check for $1,500 B. the purchase of a previously owned house for $300,000 C. the purchase of a used automobile from a friend D. none of these
A unanimity rule suffers from the holdout problem
a. True b. False