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If the Cross-Price Elasticity of Demand Is -3, Then the Goods

question 224

Multiple Choice

If the cross-price elasticity of demand is -3, then the goods are __________ and the consumers' responsiveness would be characterized as __________.


Definitions:

Double Tax

The imposition of two or more taxes on the same income, asset, or financial transaction.

Disenfranchisement

The removal or denial of the right to vote or other rights of citizenship, often targeted towards specific groups or individuals.

Literate

Having the ability to read and write, or being knowledgeable in a particular area or field.

Jubilee Singers

A group of African American singers from Fisk University who toured the United States and Europe in the late 19th century, introducing audiences to spirituals and raising funds for their institution.

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