If the Cross-Price Elasticity of Two Goods Is Negative,then the Two

question 205

Multiple Choice

If the cross-price elasticity of two goods is negative,then the two goods are

• A)necessities.
• B)complements.
• C)normal goods.
• D)inferior goods.

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Definitions:

Two-way ANOVA

Two-way ANOVA is a statistical test that analyzes the effect of two independent categorical variables on a dependent variable, allowing for the assessment of interactions between factors.

Treatments

In experimental design, refers to the different conditions applied to groups of subjects to observe their effects on some outcome.

Randomized Block Experiment

An experimental design in which subjects are divided into blocks or groups with similar characteristics before being randomly assigned to different treatments.

Between-treatments Variation

The variation in data that is attributable to the differences in treatments or conditions in an experimental design.