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Subject - Economics:

Microeconomics

MCQ - 133-4143

Question:

If it is true that bacon and eggs are complementary goods, then

  1. the income elasticity of bacon is positive and the income elasticity for eggs is negative.
  2. the price elasticity for eggs is greater than the price elasticity for bacon.
  3. the cross-price elasticity between bacon and eggs is negative.
  4. the price elasticity for eggs is greater than the price elasticity for bacon.
  5. the cross-price elasticity between bacon and eggs is positive.

Correct Answer: C

Explanation:

If the price of eggs rises, demand for bacon falls if they are complementary; Exy < 0.

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269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: If it is true that bacon and eggs are complementary goods, then , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 133-4143.

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