The cross price elasticities among substitute goods will be extremely high when:
a. b and d.
b. they are very similar to each other.
c. people are consuming them frequently.
d. people consume them in equal quantities.
e. they are imperfect substitutes.
b
Economics
You might also like to view...
If you are willing to purchase a house for $500,000 and you purchase the house for $500,000 . this transaction will generate: a. There is no surplus created for either of the party
b. $0 worth of seller surplus and unknown amount of buyer surplus. c. $0 worth of buyer surplus and unknown amount of seller surplus. d. No information provided.
Economics
Economies of scale are followed by diseconomies of scale
Indicate whether the statement is true or false
Economics