If the Quantity of Big Macs Demanded Falls from 2

question 174

Multiple Choice

If the quantity of Big Macs demanded falls from 2.0 million to 1.6 million as the price of Whoppers falls from $1.40 to $.80, the cross-price elasticity of demand for Big Macs is:

• A) −2.5.
• B) −0.4.
• C) 2.5
• D) 0.4.

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Definitions:

Involuntary Stable Single

A person's state of being single not by choice but due to circumstances that make changing this status difficult.

Remarried

The act of entering into marriage again after a divorce or the death of a spouse.

Wife Died

The occurrence of a spouse who is female passing away.

Defense of Marriage Act

A U.S. federal law enacted in 1996 that defined marriage for federal purposes as the union between one man and one woman, and allowed states to refuse to recognize same-sex marriages granted under the laws of other states. It was ruled unconstitutional in 2013.