Multiple Choice
Suppose the price of soccer shoes decreases by 7 percent and as a result,there is a 12 percent rise in the quantity of shin guards demanded.The value of the cross-price elasticity of demand is
A) -1.71
B) -0.58.
C) 1.71.
D) 0.58.
Correct Answer:
Verified
Correct Answer:
Verified
Q46: On a demand curve,demand is more elastic<br>A)At
Q47: Suppose the income elasticity of demand for
Q48: If the price of cell phones increases
Q49: The total revenue effect of a movement
Q50: Suppose the price of video games falls
Q52: You own your business,and your research indicates
Q53: If the demand for cigarettes is inelastic,<br>A)Total
Q54: Higher prices will increase total revenue if<br>A)Demand
Q55: If the price elasticity of demand for
Q56: When demand is inelastic<br>A)The percentage change in