Positive cross elasticities suggest that goods are ____ and negative cross-elasticities that goods are ?

Related Mcqs:

An increase in the price of a complement for product A would ?

A. Shift demand for Product A outwards B. Shift demand for product A inwards C. Shift supply for product A outwards D. Shift supply for product A inwards...

An increase in price from 25 pence to 30 pence leads to an increase in the quantity supplied from 40 units to 44 units. The price elasticity of supply is ?

A. +2 B. +0.5 C. -2 D. -0.5...

When excess demand occurs in an unregulated market, there is a tendency for ?

A. price to fall B. quantity supplied to decrease. C. price to rise D. quantity demanded to increase...

If a product is an inferior good ?

A. Demand is inversely related to income B. Demand in inversely related to price C. Demand is directly related to price D. Demand is inversely related to the price of substitutes...

Marginal revenue is the ________ when output is __________?

A. Change in average revenue, increased B. Change in total revenue, increase by one unit C. change in average revenue, increased by one unit D. change in total revenue increased...