Multiple Choice
Two products have a cross-price elasticity of demand of 1.5. Based on this value of cross-price elasticity, which of the following products are they most likely to be?
A) a brand of tea and a brand of sugar
B) a brand of hot dog and a brand of hot dog bun
C) a brand of juice and a brand of computer
D) two competing brands of soft drinks
Correct Answer:
Verified
Correct Answer:
Verified
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