If the Cross Price Elasticity of Two Goods (X and Y)

question 65

Multiple Choice

If the cross price elasticity of two goods (X and Y) is equal to 1, this means that _____.

• A) X and Y are complements
• B) total revenue will fall with an increase in the price of X
• C) X and Y are substitutes
• D) total revenue will increase with a fall in the price of Y

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Definitions:

Carl Rogers

An influential American psychologist who founded client-centered therapy and emphasized the importance of the self and unconditional positive regard in growth and therapy.

Alfred Adler

An Austrian medical doctor and psychotherapist, founder of the school of individual psychology, known for introducing the concept of inferiority complex.

Sigmund Freud

Sigmund Freud was an Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Walter Mischel

Walter Mischel was a psychologist known for his research on personality and his work demonstrating the situation-specific nature of human behavior.