When the Price of Erasers Increases from $1

question 111

Multiple Choice

When the price of erasers increases from $1.50 to $2.50,the quantity demanded of pencils is unchanged.The cross-price elasticity of demand between erasers and pencils is ________ because erasers and pencils are ________.

• A) 1; substitutes
• B) 1/2; complements
• C) 0; normal goods
• D) 0; unrelated
• E) -1/2; complements

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Definitions:

Individual Recognition

The ability to identify and distinguish between different individuals, often based on visual, auditory, or olfactory cues.

Superego

In psychoanalytic theory, the part of the personality that acts as a moralizing force, counterbalancing the instinctual drives of the id with societal norms and values.

Freud

Austrian neurologist best known for developing the theories and techniques of psychoanalysis.

Personality Traits

Enduring characteristics or qualities that form an individual's distinctive character, influencing behavior and attitudes.