Multiple Choice
If the value of the cross price elasticity of demand of good X for a change in good Y's price is less than 0, then:
A) the goods are complementary.
B) the goods are substitutes.
C) demand is said to be inelastic.
D) the goods are superior goods.
E) demand is said to be elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Q51: Given the following demand curve,
Q97: If an individual consumer purchases more of
Q98: A firm just decreased the selling price
Q99: Given the demand function Q<sub>X</sub> = 1500
Q100: Given the demand function Q<sub>X</sub> = 1500
Q101: Since the average revenue curve gives the
Q103: Given the demand function Q<sub>X</sub> = 1500
Q105: Given the demand function Q<sub>X</sub> = 1500
Q106: Given the demand function Q<sub>X</sub> = 1500
Q107: You raised the price of your good