Solved

When the Price of Erasers Increases from $1

Question 44

Multiple Choice

When the price of erasers increases from $1.50 to $2.50,the quantity demanded of pencils is unchanged.The cross-price elasticity of demand between erasers and pencils is ________ because erasers and pencils are ________.


A) 1; substitutes
B) 1/2 ; complements.
C) 0; normal goods
D) 0; unrelated
E) -1/2 ; complements

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions