Would you expect the cross-price elasticity of demand between ham and turkey to be positive or negative? Why?
What will be an ideal response?
The cross-price elasticity of demand between ham and turkey should be positive because ham and turkey are substitutes. When the price of ham rises, the demand for turkey increases as well.
Economics
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If the interest rate increases, the
A) money demand curve will shift to the left. B) quantity of money demanded will remain unchanged. C) quantity of money demanded will fall. D) money demand curve will shift to the right.
Economics
When a firm experiences continually declining average total costs,
a. the firm is a price taker. b. society is better served by having one firm supply the product. c. the firm will earn higher profits than if average total costs are increasing. d. All of the above are correct.
Economics