Multiple Choice
The price of product C is cut by 10%. As a result, the quantity demanded of product D rises by 20%. The cross-price elasticity of demand between product C and product D is _____, and they are _____.
A) -0.75; complements
B) -1.25; complements
C) -2; complements
D) 1.25; complements
Correct Answer:
Verified
Correct Answer:
Verified
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