Multiple Choice
What is the significance of a positive cross-elasticity coefficient between products X and Y?
A) The demand for both products must be elastic.
B) The demand for both products must be inelastic.
C) Products X and Y must be substitutes.
D) Products X and Y must be complements.
E) There is no significance since all calculations of cross elasticity are positive.
Correct Answer:
Verified
Correct Answer:
Verified
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