If Two Goods Are Complements, Their Cross-Price Elasticity Will Be

question 156

Multiple Choice

If two goods are complements, their cross-price elasticity will be

• A)positive.
• B)negative.
• C)zero.
• D)equal to the difference between the income elasticities of demand for the two goods.

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Definitions:

Set of Data

A collection of related pieces of information, often numerical, that are used for analysis.

Mathematical Average

Another term for mean, referring to the central value of a discrete set of numbers, specifically the sum of the values divided by the number of values.

Distribution

Refers to the way in which something is shared or exists across different areas or among various groups.

Median

The median is the value that falls in the middle of a dataset after it has been sorted in either increasing or decreasing order.