5. Quick Freeze Inc. sells small 'easy carry' coolers suitable for chilling beer and soft drinks. They also sell and packets of dry ice in sealed 16 oz. containers for use in the coolers. Last month Quick Freeze ran a 'welcome baseball season, cooler sale, and reduced the price of dry ice packets from $2.00 to $1.00. As a consequence, sales of easy carry coolers increase from 15 per day to 25 per day. On the basis of this information, which of the following is true? a. Ny = -1.5 and coolers and dry ice are complements. b. Nxy = -.75 and coolers and dry ice are complements. c. nxy = .75 and coolers and dry ice are substitutes. d. Nxy 1.50 and coolers and dry ice are substitutes. %3D

5. Quick Freeze Inc. sells small 'easy carry' coolers suitable for chilling beer and soft drinks. They also sell and packets of dry ice in sealed 16 oz. containers for use in the coolers. Last month Quick Freeze ran a 'welcome baseball season, cooler sale, and reduced the price of dry ice packets from $2.00 to $1.00. As a consequence, sales of easy carry coolers increase from 15 per day to 25 per day. On the basis of this information, which of the following is true? a. Ny = -1.5 and coolers and dry ice are complements. b. Nxy = -.75 and coolers and dry ice are complements. c. nxy = .75 and coolers and dry ice are substitutes. d. Nxy 1.50 and coolers and dry ice are substitutes. %3D

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 3PA: Suppose the price elasticity of demand for heating oil is 02. in the short run and 0.7 in the long...

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6. Quick Freeze Inc. sells small 'easy carry' coolers suitable for chilling beer and soft drinks. They also sell and packets of dry ice in sealed 16 oz. containers for use in the coolers. Last month Quick Freeze ran a 'welcome baseball season, cooler sale, and reduced the price of dry ice packets from $2.00 to $1.00. As a consequence, sales of easy carry coolers increase from 15 per day to 25 per day. On the basis of this information, which of the following is true? a. b. EQxPy = -1.5 and coolers and dry ice are complements. EoxPy =-.75 and coolers and dry ice are complements. .75 and coolers and dry ice are substitutes. d. EQxPy = 1.50 and coolers and dry ice are substitutes. c. EQxPy =
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