The Cross-Price Elasticity of Demand Between Pancakes and Waffles Is

question 62

Multiple Choice

The cross-price elasticity of demand between pancakes and waffles is positive.This indicates all of the following except one.Which is the exception?

• A)Pancakes and waffles are substitutes.
• B)An increase in the price of pancakes will shift the demand curve for waffles to the right.
• C)An increase in the price of waffles will shift the demand curve for pancakes to the right.
• D)A decrease in the supply of waffles will shift the demand curve for pancakes to the right.
• E)Pancake demand and waffle demand are price elastic.

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