<span>C. Val always thought snowmobiles were really cool.</span>
Answer:
The cross elasticity of demand is zero
Explanation:
Cross elasticity of demand measures the percentage change in the quantity demand of a product occasioned by a change in the price of another but related commodity.
If the the commodities are complements, the cross of elasticity of demand between them would be negative. his implies an increase(decrease) in the price of one would lead to a decrease(increase) in the demand of the other.
If the the commodities are substitutes, the cross elasticity of demand between them would be positive. This implies an increase(decrease) in the price of one would lead to a increase (decrease) in the quantity demand of the other.
Where the cross elasticity of demand is zero, this implies that the goods are not in any way related. This implies that a change in the price of one would produce no change in the quantity demand of the other.
Answer:
When Home Depot stores entered the Canadian market, there were already stores providing similar services and products. It employed Competitive effect To get people to try Home Depot by deliberately selling merchandise below the price that the Canadians did.
Explanation:
The competitive effect is the concept that allows a certain individual or organization to become attractive to customers under a scenario of pre-established markets by reducing its cost or prices making the organization competent in the market by driving the rest of the organizations in the industry compete with their costs or prices.
Deregulation is the process of taking government power out of a particular industry. If there were deregulations within the trucking industry there would be more competition within. Not only that, there would be less rules to make sure the truckers are following their weight limited, aren't carrying things that they shouldn't be or are illegal. if the trucking industry was not regulated there would be a tougher time in making sure stores were delivered goods as needed.
Answer:
The correct answer is option C and D.
Explanation:
A perfectly competitive firm has a large number of buyers and sellers. These sellers produce homogenous products. There is no restriction on entry and exit in the market. The firms are price takers.
The market for electricity is not a competitive market because there are few sellers in the market and there is difficulty in entry and exit because of the high cost involved.
