Suppose That When the Price of Good X Increases from $800

question 265

Multiple Choice

Suppose that when the price of good X increases from $800 to $850,the quantity demanded of good Y increases from 65 to 70.Using the midpoint method,the cross price elasticity of demand is about

• A)-1.2,and X and Y are complements.
• B)-0.1,and X and Y are complements.
• C)0.1,and X and Y are substitutes.
• D)1.2,and X and Y are substitutes.

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Definitions:

Counterconditioning

A behavioral therapy technique that involves replacing an undesirable response to a stimulus with a more desirable one.

Humanistic Therapies

A category of psychotherapies that emphasize personal growth and the concept of self-actualization, focusing on an individual's potential and stressing the importance of self-exploration and personal responsibility.

Self-Awareness

Acknowledgement of one's own identity, affective states, reasons for action, and desires.

Psychological Adjustment

The process of psychological change that a person undergoes to become more adept at coping with difficult situations and life in general.