1) ___________quantifies the shift in the demand curve for a good when the price of its compliment changes.
a)cross price elasticity of demand
b)price elasticity of demand
c)income elasticity of demand
d)unitary elasticity
i think its B
2) What would cause the quantity demanded of a good to rise by 5% when its price elasticity of demand coefficient is 2.5%
a)Income increases by 2%
b)the price of a substitute good falls by 2%
c)the price of the good falls by 2%
d)the good has to be unit elastic
i think its B
any help???
a)cross price elasticity of demand
b)price elasticity of demand
c)income elasticity of demand
d)unitary elasticity
i think its B
2) What would cause the quantity demanded of a good to rise by 5% when its price elasticity of demand coefficient is 2.5%
a)Income increases by 2%
b)the price of a substitute good falls by 2%
c)the price of the good falls by 2%
d)the good has to be unit elastic
i think its B
any help???