Multiple Choice
Suppose the cross-price elasticity of demand for butter and margarine is equal to 0.96 but the cross-price elasticity for water and lemons is -0.13.This means that butter and margarine are _____,while water and lemons are _____.
A) complements;substitutes
B) substitutes;complements
C) inelastic goods;elastic goods
D) elastic goods;complements
Correct Answer:
Verified
Correct Answer:
Verified
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