Solved

Blue Pens and Black Pens Are Close Substitutes

Question 254

Multiple Choice

Blue pens and black pens are close substitutes. The cross elasticity of demand for black pens with respect to the price of blue pens is


A) positive.
B) negative.
C) equal to 1.
D) zero.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q249: Toothpaste and toothbrushes are complements, so the

Q250: If the price elasticity of demand for

Q251: Moving up (to the left) along a

Q252: -The above figure</p></div><svg width=

Q253: The cross elasticity of demand measures the

Q255: If the cross elasticity of demand between

Q256: A rise in the price of a

Q257: When the price of a hot dog

Q258: A product is likely to have a

Q259: -In the figure</p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents