If the cross-price elasticity of demand betweentwo the drugs Lipitor and Zocor is + 0.45, thenthese two drugs are:А.ComplementsSubstitutesС.Normal2.Which of the following is true about the combination of brooms and mops represented by point E in Figure below using theproduction possibilities curve?PP1PP2OUTPUT OF BROOMSFigure 1.3A. Point E is efficient now.O B. Point E is attainable if this economy uses more of its (existing) available resources.O C. Point E is unattainable if this economy becomes more efficient.O D. Point E is attainable only if more resources become available or technological advances are made.OUTPUT OF MOPSB.

Cross elasticity of demand refers to the change in quantity demanded of one commodity due to a…

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If the cross-price elasticity of demand between two the drugs Lipitor and Zocor is + 0.45, then these two drugs are:

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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Question

If the cross-price elasticity of demand between
two the drugs Lipitor and Zocor is + 0.45, then
these two drugs are:
А.
Complements
Substitutes
С.
Normal
2.
Which of the following is true about the combination of brooms and mops represented by point E in Figure below using the
production possibilities curve?
PP1
PP2
OUTPUT OF BROOMS
Figure 1.3
A. Point E is efficient now.
O B. Point E is attainable if this economy uses more of its (existing) available resources.
O C. Point E is unattainable if this economy becomes more efficient.
O D. Point E is attainable only if more resources become available or technological advances are made.
OUTPUT OF MOPS
B.

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