Multiple Choice
Joe likes peanut butter and jelly sandwiches for lunch. We can conclude that for Joe the cross elasticity of demand for peanut butter with respect to jelly is
A) positive because jelly and peanut butter are substitutes.
B) positive because jelly and peanut butter are complements.
C) negative because jelly and peanut butter are substitutes.
D) negative because jelly and peanut butter are complements.
Correct Answer:
Verified
Correct Answer:
Verified
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