Suppose that a 5 percent decrease in the price of good x, Ask an Expert

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Suppose that a 5 percent decrease in the price of good X causes a 2 percent decrease in the quantity demanded of good Y. The cross-price elasticity of demand is therefore:

negative and the goods are substitutes

negative and the goods are complements

positive and the goods are substitutes

positive and the goods are complements

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91722206

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