If the Price of a Movie Rises 3 Percent And,as

question 213

Multiple Choice

If the price of a movie rises 3 percent and,as a result,the quantity demanded of video rentals increases 6 percent,then the cross elasticity of demand is

• A) 2.
• B) 1/2.
• C) -1/2.
• D) -2.
• E) 9.

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Definitions:

African Americans

A term referring to citizens or residents of the United States who have ancestry from native populations of Africa.

Crowding Model

An economic theory that describes how public sector employment can impact wages and employment levels in the private sector.

Occupational Segregation

The crowding of women or minorities into less desirable, lower-paying occupations.