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Consider two goods: peanut butter and jelly. If the price of jelly increases from $2 a jar to $3 per jar and the quantity demanded of peanut butter decreases from 50 jars to 45 jars, what is the cross elasticity of demand? Are the goods substitutes or complements?
Brokerage Firm
A financial institution that facilitates the buying and selling of financial securities between a buyer and a seller.
Online Banking Services
Financial services provided by banks over the internet, allowing customers to conduct transactions such as transferring money, paying bills, and checking account balances remotely.
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