When the price of hot dogs at the supermarket increases, the quantity demanded of hot dog buns declines. This situation describes:
a. the income elasticity of demand for hot dogs.
b. the income elasticity of demand for hot dog buns.
c. the price elasticity of supply for hot dogs.
d. the negative cross-price elasticity of demand for hot dogs and hot dog buns.
e. the positive cross-price elasticity of supply for hot dogs and hot dog buns.
d
Economics
You might also like to view...
Money market mutual funds invest in
A) residential mortgages. B) commercial real estate. C) long-term government securities. D) highly liquid assets.
Economics
If the forward rate is greater than the spot rate, what are markets signaling about their expectations for the future spot rates for the home currency?
What will be an ideal response?
Economics