For Which Goods Is the Cross-Price Elasticity of Demand MOST

question 96

Multiple Choice

For which goods is the cross-price elasticity of demand MOST likely a large positive number?

• A)hockey pucks and hockey sticks
• B)DVDs and milk
• C)french fries and onion rings
• D)all of these because the cross-price elasticity is always a positive number

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Definitions:

American Businessmen

Entrepreneurs and professionals engaged in commercial, industrial, or professional activities in the United States.

Tea

A beverage made by steeping dried leaves of the tea plant (Camellia sinensis) in hot water, known for its cultural and historical significance across the world.

Opium

A narcotic obtained from the poppy plant, historically used for its analgesic and euphoric properties, and central to several historic conflicts such as the Opium Wars.

Mexican Southwest

Refers to the region of the United States that was formerly part of Mexico, including states such as California, Arizona, New Mexico, and Texas.