The cross-price elasticity of demand for rice relative to potatoes is 0.4. Select one or more: a. This implies that rice and potatoes are complements b. This implies that potatoes are a normal good c. This implies that rice is an inferior good d. This implies that rice and potatoes are substitute goods

The cross-price elasticity of demand for rice relative to potatoes is 0.4. Select one or more: a. This implies that rice and potatoes are complements b. This implies that potatoes are a normal good c. This implies that rice is an inferior good d. This implies that rice and potatoes are substitute goods

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 8P

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