If the Cross-Price Elasticity of Demand for Two Goods Is

question 119

Multiple Choice

If the cross-price elasticity of demand for two goods is -4.5,then

• A)the two goods are substitutes.
• B)the two goods are complements.
• C)one of the goods is normal while the other good is inferior.
• D)one of the goods is a luxury while the other good is a necessity.

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Definitions:

External Factors

Elements or conditions outside an individual or system that significantly affect outcomes or operations.

Hackman And Oldham's

Refers to the Job Characteristics Model proposed by Richard Hackman and Greg Oldham, which suggests that job satisfaction is influenced by five core job dimensions.

Job Characteristics Model

A theory that proposes that the nature of a person's job can influence their job satisfaction and performance.

Task Identity

The degree to which a job requires completion of a whole and identifiable piece of work, contributing to a worker's sense of achievement and job satisfaction.