To determine whether two goods are substitutes or complements, an economist would estimate the:
a. price elasticity of demand.
b. income elasticity of demand.
c. cross-elasticity of demand.
d. price elasticity of supply.
c
Economics
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Which of the following is an example of a sunk cost?
A) The cost incurred in painting a new office space B) The wage paid to workers in a mill C) The cost of raw materials used in a factory D) The cost of electricity used in the office
Economics
Typical structure characteristics of interest to Industrial Organization researchers include
a. Barriers to entry b. Product differentiation among firms c. The number and size distribution of firms d. All of the above
Economics