The Cross-Price Elasticity of Demand for Substitute Goods Must Be

question 32

Multiple Choice

The cross-price elasticity of demand for substitute goods must be

• A) greater than one.
• B) less than one.
• C) zero.
• D) greater than zero.

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Definitions:

Desalination

The method of extracting salt and additional minerals from ocean water to create fresh water appropriate for drinking or agricultural watering.

Reverse Osmosis

A water purification method that forces water through a semipermeable membrane, removing contaminants.

Sustainable Water Use

The management and use of water resources in a way that meets current needs without compromising the ability of future generations to meet theirs.

Watershed Management

involves the planning, development, and conservation of water resources within a watershed, aiming to sustainably manage and use water resources while protecting the environment.