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Lauren1 Lauren1
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9 years ago
When the price of milk rose 50 percent, the quantity of milk sold fell 25 percent and the sale of breakfast cereals also fell 25 percent. This set of facts indicates that the
A) demand for milk is price elastic.
B) demand for breakfast cereals is price elastic.
C) cross elasticity between milk and cereal is negative so the two are complements.
D) cross elasticity between milk and cereal is positive so the two are complements.
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MrDerecheMrDereche
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9 years ago
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Lauren1 Author
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#2
9 years ago
Thank you, this really, really helps Heavy Heart
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#3
9 years ago
You're welcome!
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