The Price Elasticity of Demand Is Always Positive, as Is

question 145

Essay

The price elasticity of demand is always positive, as is the price elasticity of supply. Is the cross elasticity of demand always positive? Explain your answer.

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Definitions:

Emotionally Exploits

Taking advantage of others by manipulating their emotions for personal gain.

Biological Model

An approach in psychology and medicine that focuses on biological factors, such as genetics and neurochemistry, in explaining behavior and mental processes.

Addiction

A chronic, relapsing disorder characterized by compulsive drug seeking, continued use despite harmful consequences, and long-lasting changes in the brain.

Heredity

The biological process through which genetic characteristics are transmitted from one generation to the next.