Can you please provide the answer and explanation?
A shift in demand would not affect price when supply is
- perfectly elastic
- of zero elasticity
- less than one but greater than zero
- perfectly inelastic
If two goods have negative cross price elasticity of demand, we know that
- they are both inferior goods
- they are substitutes
- they are both normal goods
- one is inferior and the other in normal, but we can't determine which is which
- they are complementary goods
An increase in the price of a good and a decrease in total expenditure on this good are associated with
- substitute goods
- normal goods
- elastic demand
- inelastic demand
- inferior goods