1.The Cross-price-elasticity of demand for Tylenol and Aleve is likely to be (Po

Question

1.The Cross-price-elasticity of demand for Tylenol and Aleve is likely to be (Points : 2)

        A. Greater than zero
        B. Less than zero
        C. Zero
        D. Infinity

2. If the income elasticity of a particular good is negative 0.2, it would be considered (Points : 2)

        A. a superior good
       B. a normal good
        C. an inferior good
        D. an elastic good

3. If the price of a particular plastic surgery is increased and total revenue received from the sale of this procedure increases, then the price elasticity of demand is (Points : 2)

       A. elastic.
        B. inelastic.
        C. unitary.
        D. None of the above.

4. The elasticity of demand for a product is likely to be greater (Points : 2)

        A. the smaller the number of substitute products available.
        B. the smaller the proportion of one

1.The Cross-price-elasticity of demand for Tylenol and Aleve is likely to be (Points : 2)

        A. Greater than zero
        B. Less than zero
        C. Zero
        D. Infinity

Explanation / Answer

1-b

2-d

3-b

4-a

5-c

6-a

7-d

8-a

9-c

10-b

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