If the Cross Price Elasticity of Two Goods Is -3

question 68

Multiple Choice

If the cross price elasticity of two goods is -3.5,then

• A) these two products are relatively elastic substitutes.
• B) these two products are relatively inelastic substitutes.
• C) these two products are relatively elastic complements.
• D) these two products are relatively inelastic complements.

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Definitions:

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and disclose the results in a transparent manner.

Teacher Attention

The focus and responsiveness a teacher gives to students, which can influence learning outcomes and classroom dynamics.

Visible Minority

A term used to describe persons who are non-Caucasian in race or non-white in color, often used in the context of diversity and equality policies.

Self-Fulfilling Prophecy

A belief or expectation that influences a person to act in ways that make that belief come true.