The Cross Price Elasticity of Demand Between Two Goods Is

question 292

Multiple Choice

The cross price elasticity of demand between two goods is 50. We may conclude that

• A) the two goods are very complementary and probably are sold together.
• B) the two goods are poor substitutes for each other.
• C) the demand for one of the goods is likely to be fairly elastic and the demand for the other good is likely to be fairly inelastic.
• D) the demand for each of the goods is likely to be very elastic.

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