Negative-positive coefficient in cross-elasticity of demand
When you compute cross-elasticity of demand, what are you trying to find out? What do a negative coefficient and a positive coefficient imply?
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You are trying to find out whether pair of goods is complements or substitutes. A negative coefficient implies a substitute when a positive coefficient implies a complementary good.
At a $2 price per can, there quantity of applesauce supplied per day is 1000 cases; and at $4, the quantity supplied is 3000 cases per day. Therefore price elasticity of supply is: (i) 2/3. (ii) 1/3.(iii) 3/2. (iv) 1/4. Q : Average retail price and the consumer Table illustrates the average retail price of milk and the Consumer Price Index from the year 1980 to 1998. Q : Why economic problems occur Why Why economic problems occur? Answer: This is due to unlimited or infinite wants and inadequate resources.
Table illustrates the average retail price of milk and the Consumer Price Index from the year 1980 to 1998. Q : Why economic problems occur Why Why economic problems occur? Answer: This is due to unlimited or infinite wants and inadequate resources.
Why economic problems occur? Answer: This is due to unlimited or infinite wants and inadequate resources.
I have problem in this question based on law of demand. Provide me correct answer of this. Described the circumstances in which the "general law of demand" not hold?
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