-Refer to the Graphs Above to Answer This Question

question 62

Multiple Choice

-Refer to the graphs above to answer this question.Suppose that the price of nuts decreases from P₁ to P₂ and the demand curve for chocolates shifts to the right from D₁ to D₂.What can be said about the cross-elasticity of demand for nuts and chocolates and their relationship?

• A)The cross-elasticity of demand coefficient between nuts and chocolates is negative and nuts and chocolates are substitutes.
• B)The cross-elasticity of demand coefficient between nuts and chocolates is negative and nuts and chocolates are complements.
• C)The cross-elasticity of demand coefficient between nuts and chocolates is positive and nuts and chocolates are complements.
• D)The cross-elasticity of demand coefficient between nuts and chocolates is positive and nuts and chocolates are substitutes.

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Definitions:

Fortress Unionism

A strategy employed by labor unions focusing on protecting the interests and benefits of their current members rather than expanding membership.

Alt-Labor

Non-traditional labor groups, including worker centers and advocacy organizations, that support workers' rights outside of formal union structures.

Nonunion Workers

Employees who are not members of a labor union and do not receive the benefits of collective bargaining agreements.

Associational Unionism

A form of unionism where the union acts more as an association providing services and support to its members, rather than engaging in collective bargaining or industrial actions.