Refer to the above table. The price of Y decreases from $18 to $15. What is the cross price elasticity of demand between Y and X?
A) -0.73
B) -1.0
C) +1.38
D) +1.83
C
Economics
You might also like to view...
In the United States cartels are:
A. quite common in industries that produce nondurable goods. B. in violation of the antitrust laws. C. concentrated in monopolistically competitive industries. D. encouraged by government policy so firms can achieve economies of scale.
Economics
Which of following would most likely cause a firm to shut down?
a. the ATC curve moves further above P
b. the MC curve moves below P
c. the AVC curve moves above P
d. the ATC curve moves below P
Economics