The Cross-Price Elasticity Between Gillette Razors and a Related Good

question 265

Multiple Choice

The cross-price elasticity between Gillette razors and a related good is -3.4.What happens to the demand for the related good if the price of Gillette razors falls by 10 percent?

• A)The quantity demanded of the related good rises by 3.4 percent.
• B)The quantity demanded of the related good falls by 34 percent.
• C)The quantity demanded of the related good rises by 34 percent.
• D)The quantity demanded of the related good falls by 3.4 percent.

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Storytelling

The art or practice of narrating stories or events, often used as a means of entertainment, education, cultural preservation, or instilling moral values.

Ancestors

Predecessors in a family lineage or broadly, individuals from whom one is descended, significantly influencing cultural and biological inheritance.

Cultures

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people.

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The ability or capacity to direct or influence the behavior of others or the course of events.