If cola and iced tea are good substitutes for consumers, then it is likely that: their price elasticities of supply are less than one. their income elasticities are less than zero. rise in price of one leads to rise in demand for other. their price elasticities of demand are less than one.

The third one is true. 0.3 > 0.20

Ithink b hope that

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.