Goods in positive price cross elasticities of demand

When two goods contain positive price cross elasticities of demand, then the two goods are: (1) inferior goods. (2) superior substitutes. (3) complementary goods: (4) gross substitute. (5) normal goods.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Minimum of the average variable cost

Short-run supply curve of a purely competitive firm’s is: (w) its MC curve above the minimum of the AVC curve. (x) the upward sloping part of its ATC curve. (y) the intersection where is MR = MC. (z) horizontal up to the firm’s productive

Q : Bond of fixed annual income A bond

A bond which pays a fixed annual income always is: (w) an eternity. (x) a perpetuity. (y) worthless. (z) infinitely valuable. Can anybody suggest me the proper explanation for given problem regarding Econom

Q : Wage Discrimination problem Both level

Both level of the employment by a firm and the average rate of monopsonistic exploitation of labor are raised when a firm is capable to: (1) Outsource by hiring low productive workers in the foreign countries. (2) Replace the workers with automation by an industrial r

Q : Describe price elasticity of demand

Price elasticity of demand: The Price elasticity of demand refers to the degree of responsiveness of the quantity demanded to modifications in price. Ed = (ΔQ/Δ P) x (P/Q)

Q : Increases in market demand of

Raised market demand for generic bricks would result within a(n) ___________ into the price of bricks as well as a(n) ___________ within this brickyard’s profit-maximizing output. (i) increase; decrease. (ii) increase; increase.

Q : When price of a good or resource drops

When the price of a good or resource drops/falls, the demands for: (i) that good or resource rise. (ii) Complementary goods or resources reduce. (iii) Replacement of goods or resources reduces. (iv) Luxury goods and inferior resources drop/fall.

Q : Demand when oligopolistic firm

When an oligopolistic firm increases its price, in that case the demand this faces will be: (1) more elastic if the other firms in the industry raise their prices. (2) less elastic when no other firms in the industry raise their prices. (3) more elast

Q : Perfectly price discrimination

Babble-On holds world-extensive patents for software which translates any of 314 spoken languages within text, along with automatic audio and text translations within any of the other three-hundred-thirteen languages. This figure illustrates that Babble-On as: (1) is

Q : Rate of Return onto Investment When

When Henrietta Homeowner invests $100 to replace her old mechanical thermostat along with a new computerized “smart” thermostat, in that case her gas and electric bills will be decreased by $100 yearly all times. The rate of return onto this invest

Q : Economies of scale in natural monopoly

Economies of scale which are substantial relative to market demand result within the market evolving to a: (w) contestable market. (x) collusive oligopoly. (y) natural monopoly. (z) "high tech" industry.

Discover Q & A

Leading Solution Library

Avail More Than 1426712 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1933169
Asked

3,689

Active Tutors

1426712

Questions
Answered

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

Submit Assignment