Answered: If the cross elasticity of demand is…

If the cross elasticity of demand is -2: O a. The products are substitutes O b. The products are complements O c. The good is normal O d. The good is inferior

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 13SQP

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Question

If the cross elasticity of demand is -2:
O a. The products are substitutes
O b. The products are complements
O c. The good is normal
O d. The good is inferior

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