If the Price of One Good Increases by 3 Per

question 29

Multiple Choice

If the price of one good increases by 3 per cent and the quantity demanded of another good increases by 2 per cent, the cross elasticity is _______ and the two goods are _______ .

• A) 2/3, substitutes
• B) 3/2, complements
• C) 3/2, substitutes
• D) 2/3, complements

Learn how to interpret correlation coefficients and their implications.

Master the concept and computation of the slope of a regression line.

Gain the ability to predict outcomes using regression analysis.

Understand the principles of least squares regression.

---

Definitions:

-ant

A suffix often used in medical or scientific terms to indicate an agent or something that performs the action of the root word.

Foundation

An underlying basis or principle, or an organization established to support specific causes, research, or charitable activities.

Root

The foundational base of a word to which prefixes and suffixes are added, conveying the word’s essential meaning.

Antipyretic

a substance or medication that reduces fever.