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Econ 101 – A fall in the price of X from $6

01 / 10 / 2021 Projects

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Econ 101 – A fall in the price of X from $6

Econ 101:2) A fall in the price of X from $6 to $4 results in an increase in the quantity of Y demanded (at the current price of Y) from 900 to 1,100 units. What is the cross elasticity of demand between X and Y?a) 0.5b) -0.5c) 2d) -2e) either A or B depending on whether X and Y are substitutes or complements3) A supply curve:a) intersects the origin, the good has an elasticity of supply equal to zero.b) is horizontal, the good has an elasticity of supply equal to zero.c) is vertical, the good has an elasticity of supply equal to infinity.d) intersects the origin, the good has an elasticity of supply equal to 1.e) intersects the origin, the good has an elasticity of supply that is negative.



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