If the Value of the Cross Price Elasticity of Demand

question 1

Multiple Choice

If the value of the cross price elasticity of demand of good X for a change in good Y's price is greater than 0, then:

• A) the goods are complementary.
• B) the goods are substitutes.
• C) demand is said to be inelastic.
• D) the goods are superior goods.
• E) demand is said to be elastic.

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Definitions:

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