Coffee and cream:
A) are both luxury goods.
B) are complements.
C) are both more inelastic in demand in the long run than in the short run.
D) have a positive cross price elasticity of demand.
B
You might also like to view...
According to classical economists,
a. money was a "veil" that determined the nominal values in which such variables as the level of economic activity were measured. b. money can have a temporary impact on output. c. it is the nominal interest rates that matters in decisions to save and invest. d. Both a and b e. Both a and c
To calculate the internal rate of return on a factory that would yield a perpetual future stream of income, one would divide
A) the annual future payment by the cost of the factory. B) the sum of the future payments by the cost of the factory. C) the cost of the factory by the rate of interest. D) the cost of the factory by the annual future payment.