Multiple Choice
The cross price elasticity of demand for Good X with respect to Good Y is 1.2 and that with respect to Good Z is -0.3.This implies:
A) Good X and Good Y are complements.
B) Good X and Good Z are substitutes.
C) Good Y and Good Z are substitutes.
D) Good X and Good Z are complements.
Correct Answer:
Verified
Correct Answer:
Verified
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