Explain are todaro pizza and grouchos sandwiches substitutes

Reference no: EM13212997

When Groucho's deli lowers the price of their sandwiches by 9% the quantity demanded of Todaro pizza falls by 12%. What is the cross price elasticity of demand for Todaro pizza with respect to the price of Groucho's sandwiches? Are Todaro pizza and Groucho's sandwiches substitutes or compliments?

Reference no: EM13212997

Questions Cloud

What is the potential of an electrode consisting of zinc : What is the potential of an electrode consisting of zinc metal in a solution in which the zinc ion concentration

State how many grams of nacl would need add to 1 liter water : how many grams of NACL would you need to add to 1 liter water sample ph=7 so that ionic strength equaled to 0.1M

Determine who has the comparative advantage : Nobel Laureate Paul Samuelson said that comparative advantage is one of the few ideas in economics that is both "true and not obvious." Since it's not obvious, we should practice with it a bit. In each of the cases below, who has the absolute adva..

Explain how cis- trans isomers are used for night vision : Differentiate between alkenes and alkynes, cis isomers and trans isomers. Describe how cis- trans isomers are used for night vision.

Explain are todaro pizza and grouchos sandwiches substitutes : When Groucho's deli lowers the price of their sandwiches by 9% the quantity demanded of Todaro pizza falls by 12%. What is the cross price elasticity of demand for Todaro pizza with respect to the price of Groucho's sandwiches.

The valve between a 5-l tank containing a gas : The valve between a 5-L tank containing a gas at 9 atm and a 10-L tank containing a gas at 6 atm is opened. Calculate the final pressure.

What is the irr of project : Salvage value nor net working capital requirements and at the accounting break-even level of output, what is the IRR of this project? The payback period? The NPV?

Explain what is the ph of the solution before adding naoh : buffer solution that has [H2PO4-]=[HPO4-2]=0.132 M. What is the pH of the solution before adding NaOH? After adding NaOH?

Explain elemental carbon is burned in the open atmosphere : When elemental carbon is burned in the open atmosphere, with plenty of oxygen gas present, the product is carbon dioxide.

User Account

All Pages