-Refer to the Graphs Above to Answer This Question

question 52

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 is the relationship between nuts and chocolates?

• A)The demand for nuts and chocolates must be unit elastic.
• B)Nut and chocolates must be substitutes.
• C)The cross-elasticity coefficient of demand for both nuts and chocolates must be positive.
• D)Nuts and chocolates must be complements.
• E)There is no relationship between nuts and chocolates.

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Definitions:

Management

The process of dealing with or controlling things or people, often in the context of businesses and organizations.

Unionization

The process of forming or joining a labor union, where workers unite to negotiate collectively with employers over wages, working conditions, and other employment matters.

Productivity

The ratio of a firm’s outputs (goods and services) divided by its inputs (people, capital, materials, energy).

Debate

A structured discussion or argument on a particular topic, where participants express and defend their positions or viewpoints, often used as a method of exploring and evaluating contrasting perspectives.