If the Cross Elasticity of Demand Coefficient Between Goods X

question 193

Multiple Choice

If the cross elasticity of demand coefficient between goods X and Y is negative, then goods X and Y must be

• A)complements.
• B)substitutes.
• C)normal goods.
• D)inferior goods.

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Definitions:

Autonomous

Having the capacity for self-governance or the ability to make decisions independently.

Dualistic

Pertaining to or involving a distinction between two fundamentally different concepts, perspectives, or entities.

Relativistic

Pertaining to the understanding that knowledge, truth, and morality exist in relation to culture, society, or historical context and are not absolute.

Pragmatic

Concerned with practical considerations or consequences in decision-making or communication, focusing on effective and sensible approaches.