If the cross-price elasticity of demand for two goods is negative, then the two goods are substitutes
a. True
b. False
Indicate whether the statement is true or false
False
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At the start of the Civil War, the population in the U.S. was about half that of the United Kingdom
Indicate whether the statement is true or false
COLA clauses are usually based on the
a. CPI. b. PPI. c. implicit price deflators. d. level of unemployment.
If a monopolist had no production costs, it would produce the output where marginal revenue intersects the quantity axis. At this point, the price elasticity of demand would be:
A. 1. B. zero. C. perfectly inelastic. D. perfectly elastic.
The present value of a dollar rises as
A. the interest rate declines and the number of years you wait for your money declines. B. the interest rate rises and the number of years you wait for your money rises. C. the interest rate declines and the number of years you wait for your money rises. D. the interest rate rises and the number of years you wait for your money declines.