Cross elasticity coefficient complements

When college enrollments drop 10 % while textbook prices double, in that case textbooks and enrollments are _____ goods as well as their cross elasticity coefficient is approximately _____. (1) superior; 5.0. (2) inferior; 10.0. (3) substitute; 5.0. (4) complementary; 0.1. (5) implicit; 7.5.

Please guys help to solve this problem of Economics with some explanation.

View Complete Question

Related Questions in Microeconomics

Q : Earn normal accounting profit in the

When a purely competitive industry is into long run equilibrium, in that case a typical firm can: (w) earn normal accounting profit although only zero economic profit. (x) incur economic losses when these are offset by accounting prof

Q : Production at exceeds marginal costs by

For any profit-maximizing monopolist not capable to price discriminate, production arises at an output level where is: (w) price exceeds marginal costs [P > MC]. (x) marginal revenue exceeds marginal costs [MR >

Q : Backward bending-supply curve of labor

Supply curve of the labor is LEAST probable to be ‘backward bending’ for: (i) An individual worker. (ii) The economy as an entire. (iii) Highly specialized industries which are major employers of the specialized PhDs hired only after 10 years of experience

Q : Different pure economics rent Pure

Pure economic rents are different most from economic profits in which they are: (w) received by the owners of productive resources. (x) frequently costs to the firm using the resources which generate them, but not to society as a whol

Q : Perfect competition ‘In the real world

‘In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value

Q : Produces profit maximizing by marginal

All profit maximizing firms makes where marginal revenue: (w) equals marginal cost. (x) equals average variable cost. (y) includes average revenue. (z) is rising. Can anybody suggest me the proper

Q : Prospective financial investment by

Assets turn into less desirable to prospective financial investors while: (w) they become more liquid. (x) interest rates increase. (y) their prices go up. (z) default risks decrease. How can I solve my Eco

Q : Manufacturing assets by biggest

Over half of all the manufacturing assets are held by the _____ biggest corporations in the United States. (w) 5 (x) 100 (y) 10 (z) 200 Can someone please help me in finding out the precise answer from the above options.

Q : Marginal Utilities and Demand Prices

Can someone help me in finding out the right answer from the given options. Rational individual consumers tend to purchase goods until the relative market prices for each and every goods purchased are proportional to all individuals: (i) Cost or benefit ratio. (ii) Op

Q : Price increment in elasticity A price

A price hike $4 to $5 per slice of pizza because of total revenue to: (w) fall. (x) remain constant. (y) rise. (z) this is not possible to tell from such data.

Discover Q & A

Leading Solution Library

Avail More Than 1414429 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1953542
Asked

3,689

Active Tutors

1414429

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment