If Goods X and Y Are Such That the Cross

question 84

Multiple Choice

If goods X and Y are such that the cross price elasticity between them is negative, and if the income elasticity of X is negative, then these goods are:

• A) inferior complements.
• B) luxury complements.
• C) income elastic substitutes.
• D) normal substitutes.
• E) income elastic complements.

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Definitions:

Reefs

Structures in the ocean, often made up of coral or rock, that rise close to or above the surface of the water.

Central Atlantic

The central portion of the Atlantic Ocean, situated between the Americas to the west and Europe and Africa to the east.

Two Hundred Million

Indicates a numerical quantity, often used in geological contexts to denote age, such as 200 million years ago.

Submarine Canyons

Deep, steep-sided valleys cut into the seabed of the continental slope, often extending well beyond the depth of the surrounding ocean floor.