If both of two goods have price elasticities of demand, price elasticities of supply, income elasticities of demand and cross elasticities of demand all equal to 2.0:
a. They are both normal and substitutes
b. They are both normal and complements.
c. They are both inferior and substitutes.
d. They are both inferior and complements.
a
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A scatter diagram shows the
A) level of one variable over time. B) change in one variable over time. C) relationship between two variables. D) evolution of a variable.
If Mario's Pizza, a large frozen pizza distributor, builds a tomato sauce plant near Red Tomatoes, a large tomato farm, to reduce the costs of transporting fresh tomatoes, ________ potentially faces a hold-up problem as the firm invested in a ________.
A) Mario's Pizza; transaction-specific asset B) Red Tomatoes; negotiation asset C) Red Tomatoes; transaction-specific asset D) Mario's Pizza; negotiation asset
In the national income accounts, the symbol G represents the
a. government production of goods and services. b. volume of goods and services purchased by the federal government. c. value of goods and services purchased by the federal government. d. value of goods and services purchased by all levels of government.
The unionized percentage of the labor force in the United States has been increasing steadily since the 1950s.
Answer the following statement true (T) or false (F)