If Good a Is a Substitute for Good B,then the Cross

question 5

Multiple Choice

If good A is a substitute for good B,then the cross elasticity of demand for good B with respect to the price of good A is

• A)negative.
• B)equal to 1.
• C)positive.
• D)zero.
• E)equal to the cross elasticity of demand for good A with respect to the price of good B.

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Definitions:

Oil Field

The region in the subsurface that contains petroleum, especially oil; also the projection of that area to the surface.

Volcanic Eruptions

Natural geological phenomena involving the release of gases, ash, and molten rock from beneath the Earth's surface.

Oil Spill

The release of liquid petroleum hydrocarbons into the environment, especially marine areas, leading to pollution.

Geologic Resources

Naturally occurring materials of economic value extracted from the Earth, including minerals, fossil fuels, and groundwater.