Which of the following statements is true of the cross-price elasticity of demand?
A) The cross-price elasticity of demand between substitutes is zero.
B) The cross-price elasticity of demand between complements is zero.
C) The cross-price elasticity of demand between substitutes is negative.
D) The cross-price elasticity of demand between complements is negative.
D
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
If the marginal cost of producing every quantity decreases, all the following occur EXCEPT
A) minimum supply price does not change. B) the marginal social benefit of the last unit bought changes. C) the consumer surplus increases. D) the efficient quantity increases.
Which of the following defines a sunk cost?
a. Cost of the next best alternative b. Cost of producing an additional unit c. An asset with no scrap value d. Total cost of producing a product
Showing up to a job interview and not knowing any information about the company is an example of a:
A. negative screen. B. positive screen. C. positive signal. D. negative signal.