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The cross-price elasticity of demand between an unlimited texting option and an unlimited call ...

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The cross-price elasticity of demand between an unlimited texting option and an unlimited call ...

Question 1.

If the cross-price elasticity of demand between Breeze Detergent and Faber Detergent is a relatively large positive number, then it indicates that

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consumers have a distinct preference for one brand versus the other.

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the two brands of detergent are close substitutes.

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detergents are necessities.

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the two brands are probably made by the same company.

Question 2.

The cross-price elasticity of demand between an unlimited texting option and an unlimited call minutes option offered from a cell phone provider would be

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positive if subscribers consider the services complements to each other.

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negative no matter if subscribers consider the services substitutes or complements for each other.

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positive if subscribers consider the services substitutes for each other.

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negative if subscribers consider the services substitutes for each other.

Textbook

InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

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More solutions for this book are available here

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melinoma86 Author

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this is exactly what I needed

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Good timing, thanks!

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