Solved

If There Are Only Two Goods and These Are Consumed

Question 39

Multiple Choice

If there are only two goods and these are consumed in fixed proportions,the price elasticities of demand for these two goods will sum to

A) 0.0
B) -0.5
C) -1.0
D) a number between 0 and -1.

Related Questions

Q34: An increase in the price of good

Q35: If a good is Giffen and its

Q36: Demand functions are "homogeneous of degree zero

Q37: ? <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2264/.jpg" alt="? ?In

Q38: If the prices of all goods increase

Q40: ? <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2264/.jpg" alt="? In

Q41: If a consumer purchases only two goods

Q42: If the income elasticity of demand is

Q43: The demand for gasoline is more elastic

Q44: A change in the distribution of income