Multiple Choice
In the article on SUV sales titled "SUV Sales Drop with Gasoline Price Rise" suggests that
A) SUV sales are very responsive to gasoline, which is a substitute good to SUVs.
B) SUV sales did not respond all that much to a rise in gasoline prices, indicating that demand is inelastic for SUVs.
C) Gasoline and SUVs are complementary goods, and when the price of gasoline rose, the demand for SUVs fell.
D) The sign on the cross-price elasticity formula will be positive for SUVs and gasoline.
Correct Answer:

Verified
Correct Answer:
Verified
Q37: If demand is elastic,a price reduction will
Q38: To find the average percentage change in
Q41: For the United States to become less
Q42: The local baseball team owner hires you
Q43: The basic formula for price elasticity is<br>A)
Q47: Suppose the income elasticity of demand for
Q84: If the price of a good rises
Q98: If the price elasticity of demand is
Q99: Supply is very elastic when<br>A)The quantity supplied
Q140: The formula for the elasticity of supply