If the Cross-Price Elasticity Is Such That Increasing the Price

question 1

Multiple Choice

If the cross-price elasticity is such that increasing the price of one service results in increased demand for another service,the two services are:

• A)unitary.
• B)substitutes.
• C)complementary.
• D)inelastic.
• E)elastic.

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Definitions:

Cones

Photoreceptor cells in the retina that enable color vision and visual clarity in bright light.

Fovea Centralis

A small depression in the retina of the eye where visual acuity is highest, due to the concentration of cones, specialized for daylight vision, fine detail, and color.

Retina

The light-sensitive layer of tissue at the back of the inner eye that converts light into electrical signals sent to the brain, allowing for vision.

Aqueous Humor

The clear fluid filling the space in the front of the eyeball between the lens and the cornea.