If one is interested in knowing whether or not a pair of products are substitutes, one would be interested in the value of the:
a. elasticity of supply
b. price elasticity of demand.
c. income elasticity of demand.
d. cross-price elasticity of demand.
d
Economics
You might also like to view...
The velocity of money is:
a. money supply divided by prices. b. spending divided by output. c. required monetary reserves divided by income. d. GDP divided by the money supply.
Economics
Long-run full-employment equilibrium assumes: a. a downward-sloping production function
b. a downward-sloping long-run supply curve (LRAS). c. the CPI index price level equals the equilibrium wage rate. d. the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equalslong-run aggregate supply (LRAS).
Economics