Multiple Choice
The cross-price elasticity between Coke and Pepsi has been estimated at about 0.7,which indicates that _____
A) the two goods are substitutes.
B) the two goods are complements.
C) Coke is a substitute and Pepsi is a complement.
D) Pepsi is a substitute and Coke is a complement.
E) the two goods are income elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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