What Empirical Method Generally Is Used to Measure the Degree

question 7

Multiple Choice

What empirical method generally is used to measure the degree to which products substitute for each other?

• A)Cross-price elasticity
• B)Price comparison
• C)Relatedness factor
• D)Standard Industrial Classification
• E)SSNIP

---

Definitions:

Bricklayers

Skilled tradespeople who lay bricks, blocks, and other types of building materials to construct or repair walls, partitions, and other structures.

Masonry Firm

A business that specializes in the construction and repair of structures made from brick, stone, and similar materials.

Price

The financial sum needed for the purchase of a product or service.

Marginal Product

The change in output resulting from employing one more unit of a specific input, keeping all other inputs constant.