Multiple Choice
Suppose that when the price of good X increases from $800 to $850,the quantity demanded of good Y increases from 65 to 70.Using the midpoint method,the cross price elasticity of demand is about
A) -1.2,and X and Y are complements.
B) -0.1,and X and Y are complements.
C) 0.1,and X and Y are substitutes.
D) 1.2,and X and Y are substitutes.
Correct Answer:
Verified
Correct Answer:
Verified
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