18.)Which of the following price elasticities of demand would be considered inelastic? а.) 3 b.) 2 с.) 1 d.) ½ 19.) Which of the following goods is most likely to have a negative cross price elasticity of demand with ice cream? a.) Waffle cones b.) Water ice с.) Вeer d.) Pretzels 20.)Suppose that the price of sticky hands is $2.00 and the price of gumballs is $1.00. What is the relative price of gumballs? a.) 4 b.) ½ c.) 2 d.) 1

18.)Which of the following price elasticities of demand would be considered inelastic? а.) 3 b.) 2 с.) 1 d.) ½ 19.) Which of the following goods is most likely to have a negative cross price elasticity of demand with ice cream? a.) Waffle cones b.) Water ice с.) Вeer d.) Pretzels 20.)Suppose that the price of sticky hands is $2.00 and the price of gumballs is $1.00. What is the relative price of gumballs? a.) 4 b.) ½ c.) 2 d.) 1

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 4.7P: (Cross-Price Elasticity) Rank the following in order of increasing (from negative to positive)...

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