If Two Commodities Are Substitutes,then

question 73

Multiple Choice

If two commodities are substitutes,then

• A)they tend to be used together by consumers
• B)their prices are generally regulated by the government
• C)an increase in the price of one of them increases the supply of the other
• D)the cross-price elasticity of demand is positive
• E)the cross-price elasticity of demand is negative

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Definitions:

Frequency Distribution

A summary of how often various values occur in a data set, often represented in a table or graph.

Mode

The value that occurs most frequently in a given set of data, used as a measure of central tendency.

Set Of Colors

A specific collection or arrangement of colors, often used to represent different data points, categories, or variables in visual representations.

Median

The middle value in a data set when the values are arranged in ascending or descending order.