Football socks are found to have a cross-elasticity of demand of −2 with respect to product Y. Which of the following products is most likely to be product Y:

Related MCQs

• If your income doubles and the prices of the goods you buy double, then your demand for these goods will likely ________
• When elasticity of demand is 2, the demand will be:
• The elasticity of demand for the demand curve of a firm under perfect competition is
• The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price:
• Necessities have _____ elasticity of demand of between 0 and +1.
• The slope coefficient ,β2, of ............ model measures elasticity of Y with respect to X.
• P = a – bQ is the demand cure of a monopolist. Which of the following statements is true?
• The correlation coefficient between the mathematics and economics was found to be 0.64. What will be the value of correlation coefficient between economics and mathematics
• Demand function for a commodity is D = 44 – 7P and supply function S = 2P –10, then the equilibrium price is:
• At a price of Rs11.00, quantity demanded is 90; and at a price of Rs.9.00, quantity demanded is 110. The price elasticity of demand is: