What does cross-price elasticity of demand measure? O A. how the quantity demanded of one good changes as the price of another good changes 0 B. how the quantity demanded ofa good changes as income changes 0 C. how the price of a good is affected as the price of another good changes O D. how the quantity demanded of a good changes as price changes Table 3-5 Labour hours needed to make 1 unit: Amount reduced in 24 hours: Refer to the attached Section 1_Midterm 1_Table 2. Which country has an absolute or comparative advantage in each product? Section1 Midterm1 Table 2.docx 15KB O A.Japan has a comparative advantage in airplanes, and Canada has an absolute advantage in cars. 0 B.Japan has a comparative advantage in cars, and Canada has an absolute advantage in neither good. O C.Japan has a comparative advantage in airplanes, and Canada has an absolute advantage in both goods. Q D.Japan has a comparative advantage in cars, and Canada has an absolute advantage in airplanes. What does fewer sellers in the market cause? 0 A. the supply curve to shift to the right O B. the supply curve to shift to the left O C. a movement down a stationary supply curve O D. a movement up a stationary supply curve Beer Beer 10 - 10 9 9 8 8 7 6 6 5 - 5 Ben Jerry 4 4 3 3 2 2 1 1 2 3 4 5 6 7 8 9 10 Wine 1 2 3 4 5 6 7 8 9 10 WineRefer to the attached Section 1_Midterm 1_Graph 6. For Jerry, what is the opportunity cost of one bottle of wine? Section 1_Midterm 1_Gph 6.docx 61 KB O A. 3 bottles of beer O B. 1 bottle of beer O C. 18 bottle of beer 0 D. 1/2 bottle of beer