Multiple Choice
Blue pens and black pens are close substitutes. The cross elasticity of demand for black pens with respect to the price of blue pens is
A) positive.
B) negative.
C) equal to 1.
D) zero.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q488: The price elasticity of supply is calculated
Q489: On December 10 the price of a
Q490: Because Product X has a very small,
Q491: The price of milk rises, so the
Q492: A rise in the price of a
Q494: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above figure
Q495: "The number of substitutes available affects the
Q496: Because of an increase in the price
Q497: If the demand for cigarettes decreases after
Q498: When the price elasticity of demand for