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Economics
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27 Nov 2019

If the price of ink-jet printers increases by 10% and the quantity demanded of ink-jet cartridges decreases by 15%, the cross-price elasticity between printers and cartridges is _____, and the two goods are _______.

A. -0.67; substitutes

B. -0.67; complements

C. -1.50; complements

D. -1.50; substitutes

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Jarrod RobelLv2
5 Mar 2019
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Related questions

When the price of good A rises from $180 to $220, the quantity of good A demanded decreases from 250 to 150 units a day, and the quantity of good C demanded increases from 75 to 125 units a day.

From this information, we can determine that _______.

A. the cross elasticity of demand is positive, so the two goods are substitutes

B. the goods are complements because as the price of good A changes so does the quantity demanded of good C

C. good C is a normal good because as the price of good A rises, people switch to good C

D. the cross elasticity of demand is less than 1, so the two goods are substitutes

1-Economists recently found that a lot of increase in the price of beer caused the quantity demanded of wine to increase by 4%. This means that the cross-price elasticity of demand between beer and wine is.
a. 0.4, and beer and wine are substitutes
b. 2.5, and beer and wine are complements
c. 0.4, and beer and wine are complements
d. 2.5, and beer and wine are substitutes.

2. A I0% increase in the price of a movie ticket in Westridge 8 leads to an l5Yo decrease in the number of tickets sold, indicating the demand for movie tickets in Westridge 8 is:
a. elastic.
b. inelastic.
c. unit elastic.
d. Can not tell from the information given.

3. If economists estimate that the price elasticity of the supply of physician services is 0.2 then the supply of physician services is_ anda25o/o decrease in the price of physician services will result in the quantity supplied of physician services.
g. inelastic; 5olo decrease
h. inelastic; 5olo increase
i. inelastic;25Yo decrease
j. inelastic; 25olo increase
k. inelastic; 500/o decrease
l. inelastic; 500/o increase


4. A 5% decrease in the price of country music concert tickets causes a 15o/o increase in the demand for beer then the cross-price elasticity of demand between country music concert tickets and beers
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c. -3.0 and tickets and beer are substitutes
d. -0.3 and tickets and beer are substitutes


5. An economist for the jeans industry has estimated the price elasticity of demand for blue jeans at -2.9. Based on this estimate 5o/o decrease in the price of jeans would result in a
a. 145% decrease in the quantity demanded of jeans
b. 14.5% increase in the quantity demanded of jeans
c. 2.9%o decrease in the quantity demanded of jeans
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26. A decrease in the price of X from $6 to $4 causes an increase in the quantity of Y demanded (at the current price of Y) from 900 to 1,100 units. What is the cross-elasticity of demand between X and Y ? A) 0.5 B) -0.5 C) 2 D) -2 E) A) or B), depending on whether X and Y are substitutes or complements

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