Julie always purchases the soda with the lowest price. For Julie, the cross price elasticity of demand for brand X and brand Y will be
A) equal to 0.
B) negative.
C) positive.
D) impossible to determine without more information.
C
Economics
You might also like to view...
The use of strategic bombing by the Allies during World War II:
a. caused a marked decrease in Axis munitions production. b. caused Germany to divert significant resources to air defense. c. used the various air forces as an aid to the ground or sea forces. d. was intended to attack the civilian population. e. Only b and d are correct.
Economics
If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its total fixed cost?
a. $650 b. $1,000 c. $200 d. $320
Economics