Question
The positive cross elasticity of demand between two
products means the two productsSolution
A positive cross elasticity of demand means that the demand for good A will increase as the price of good B goes up. This means that goods A and B are good substitutes. so that if B gets more expensive, people are happy to switch to A. An example would be the price of milk.
12Â Â Â Â Â Â Â Â Â Â Â Â Â 10Â Â Â Â Â Â Â Â Â Â Â Â 13Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 18.5Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 25.50Â Â Â Â Â Â Â ...
7, 14, 42, 210, 1470, ?
6, 17, 21, 47, ?, 107
21     84      168      172     ?     348
...315 146 267 ? 235 210
14 20 35 ? 433 2167
...18, 32, 50, 82, 132, ?
840 400 180 ? 15 -12.5
...22Â Â Â 23Â Â Â Â 32Â Â Â Â 57Â Â Â 106Â Â Â ?
Three series are given below. You have to find the values of P, Q and R, then establish a relationship among them.
I:Â Â Â 210, P , 233, 64,...
