Multiple Choice
The percentage change in the quantity demanded of good X is 20 percent and the percentage change in the price of good Y is 10 percent. It follows that the __________ elasticity of demand is __________ and that the two goods are __________.
A) income; 0.50; substitutes
B) cross; 2.00; complements
C) cross; 0.50; substitutes
D) cross; 2.00; substitutes
E) price; 2.00; substitutes
Correct Answer:
Verified
Correct Answer:
Verified
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