Sandra Purchases 5 Pounds of Coffee and 10 Gallons of Milk

question 226

Multiple Choice

Sandra purchases 5 pounds of coffee and 10 gallons of milk per month when the price of coffee is $10 per pound.She purchases 6 pounds of coffee and 12 gallons of milk per month when the price of coffee is $8 per pound.Sandra's cross-price elasticity of demand for coffee and milk is

• A) 0.82, and they are substitutes.
• B) -0.82, and they are complements.
• C) 1.22, and they are substitutes.
• D) -1.22, and they are complements.

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Definitions:

Quaternary Storage

A type of data storage system designed to store large volumes of data using optical or magnetic technology, often for archival purposes.

SSDs

Solid State Drives, a type of non-volatile storage media that uses flash memory to store data, offering faster data access speeds and greater reliability than traditional hard disk drives.

Cost

The amount of money required to purchase, operate, or maintain a product or service or the effort involved in achieving something.

ROM

Read-Only Memory, a type of non-volatile storage media that is programmed with data that cannot be modified, or that can only be modified slowly or with difficulty.