Multiple Choice
The cross-price elasticity of electricity with respect to the price of natural gas has been estimated as being equal to 0.2.This implies that:
A) natural gas and electricity are both normal goods.
B) electricity and natural gas are complements.
C) electricity and natural gas are substitutes.
D) one of the two goods is inferior and the other is normal,but we need additional information to determine which of them is normal.
Correct Answer:
Verified
Correct Answer:
Verified
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