For which pairs of goods is the cross-price elasticity most likely to be negative?
a. peanut butter and jelly
b. automobile tires and coffee
c. pens and pencils
d. paperback novels and electronic books for e-readers
a
You might also like to view...
Using the table above, the Current Population Survey classifies the group of individuals who are left after subtracting from the total population groups 1, 2, 3, 4, 5, and 6 as
A) not in the labor force. B) discouraged workers. C) unemployed. D) employed. E) the labor force.
The price of lemonade is $0.50; the price of popcorn is $1.00. If Fred has maximized his utility by purchasing lemonade and popcorn, his marginal rate of substitution will be:
A) 2 lemonades for each popcorn. B) 1 lemonades for each popcorn. C) 1/2 lemonade for each popcorn. D) indeterminate unless more information on Fred's marginal utilities is provided.