Multiple Choice
Suppose that when the price of good X falls from $6 to $4,the quantity demanded of good Y rises from 30 units to 40 units.Using the midpoint method,the cross-price elasticity of demand is
A) -0.71,and X and Y are complements.
B) -1.40,and X and Y are complements.
C) -0.71,and X and Y are substitutes.
D) -1.40,and X and Y are substitutes.
Correct Answer:
Verified
Correct Answer:
Verified
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