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To Say That Two Goods Are Substitutes, Their Cross Price

question 109

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To say that two goods are substitutes, their cross price elasticities of demand should be:


Definitions:

Causa Mortis

Causa mortis, or in contemplation of death, refers to gifts or actions taken by an individual who believes their death is imminent.

Immediate Death

The rapid loss of life following an event or condition, without a prolonged period of illness or decline.

Gift Causa Mortis

A gift that is made in contemplation of one’s immediate death.

Contemplation

The action of looking thoughtfully at something for a long time or thinking about something deeply.

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