If the cross-price elasticity of demand is 1.3, what is the relationship between Good X and Good Y?
Select one:
a) Good X is elastic and Good Y is inelastic.
b) Good X and Good Y are unrelated.
c) Good X and Good Y are substitutes.
d) Good X and Good Y are complements.

Question

10-06-2024
Business

Answered

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If the cross-price elasticity of demand is 1.3, what is the relationship between Good X and Good Y?
Select one:
a) Good X is elastic and Good Y is inelastic.
b) Good X and Good Y are unrelated.
c) Good X and Good Y are substitutes.
d) Good X and Good Y are complements.

Sagot :

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If the cross-price elasticity of demand is 1.3, what is the relationship between Good X and Good Y?Select one:a) Good X is elastic and Good Y is inelastic.b) Good X and Good Y are unrelated.c) Good X and Good Y are substitutes.d) Good X and Good Y are complements.

Sagot :

Other Questions

If the cross-price elasticity of demand is 1.3, what is the relationship between Good X and Good Y?
Select one:
a) Good X is elastic and Good Y is inelastic.
b) Good X and Good Y are unrelated.
c) Good X and Good Y are substitutes.
d) Good X and Good Y are complements.