Two Items Which Have a Negative Cross Price Elasticity of Demand

question 260

Multiple Choice

Two items which have a negative cross price elasticity of demand are referred to as

• A) luxury goods.
• B) inferior goods.
• C) substitutes.
• D) complements.

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Definitions:

Unregulated

Not controlled or governed by rules or laws set by any governing body or authority.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price within a specific time period.

Bag Of Pretzels

A serving of twisted bread snacks, typically salted and baked, often consumed as a snack food or appetizer.

Current Price

The present value at which a good or service is sold in the market.