Which of the Following Pairs of Goods Is Likely to Have

question 202

Multiple Choice

Which of the following pairs of goods is likely to have a negative cross-price elasticity of demand?

• A)pancakes and syrup
• B)hot dogs and hamburgers
• C)orange juice and grapefruit juice
• D)peanuts and cat food

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Definitions:

10% More

Indicates an increase or addition of ten percent to a given number or value.

7% Less

A reduction by seven percent from a previous amount or value.

Standard & Poor's 500

An American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ.

Stock Index

A statistical measure that shows changes in the stock market by tracking selected stocks' prices.