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If the Cross-Price Elasticity of Demand Is -3, Then the Goods

Question 224

Multiple Choice

If the cross-price elasticity of demand is -3, then the goods are __________ and the consumers' responsiveness would be characterized as __________.

A) substitutes; inelastic
B) substitutes; elastic
C) substitutes; unit elastic
D) complements; inelastic
E) complements; elastic

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