Suppose That the Cross Price Elasticity of Demand Between Good

question 147

Multiple Choice

Suppose that the cross price elasticity of demand between good X and good Y is -1.55. This indicates that the two goods are

• A) substitutes.
• B) complements.
• C) both inferior.
• D) completely unrelated in the minds of consumers.

---

Definitions:

Microsoft Excel

A spreadsheet program developed by Microsoft that allows users to organize, format, and calculate data with formulas using a system of cells arranged in rows and columns.

Database Administrator

A person responsible for the installation, configuration, upgrade, administration, monitoring, and maintenance of databases in an organization.

Large Organizations

Businesses or entities that operate on a large scale, typically involving many people, complex structures, and widespread operations.