If Two Goods,X and Y,have a Positive Cross Elasticity of Demand,then

question 158

Multiple Choice

If two goods,X and Y,have a positive cross elasticity of demand,then we know that they

• A)are both normal goods.
• B)are complements.
• C)are both inferior goods.
• D)each have a price elasticity greater than one.
• E)are substitutes.

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Definitions:

Calculator

An electronic or software tool used for performing mathematical calculations, ranging from basic arithmetic to complex functions.

Properties

Fundamental qualities or characteristics that mathematical operations or entities inherently possess.

Logarithms

The level to which a base, usually 10 or e, is raised to generate a particular number.

Condense

In mathematics, to express a complex expression in a simpler form by combining like terms or using mathematical properties.