If the Cross-Price Elasticity of Demand Between Two Goods Is

question 211

Short Answer

If the cross-price elasticity of demand between two goods is positive, what is the relationship between the two goods?

---

Definitions:

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market situation.

Blu-ray Players

Electronic devices designed to play Blu-ray discs, which are capable of storing high-definition video and data.

Demand

The desire to own something and the ability to pay for it at a specific price.

Supply

The total amount of a product or service that is available for purchase at any given price level in a market.