Two goods are substitutes if a decrease in the price of one raises the quantity demanded of the other.
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Q92: Elasticity
A)deals with percentage changes in price and
Q93: Two goods with a low cross elasticity
Q94: A decrease in the price of a
Q95: The formula for the price elasticity of
Q96: A negative cross elasticity indicates that two
Q98: An accurate demand curve can be derived
Q99: Historical demand curves are always suspect because
Q100: A fall in the price of a
Q101: Demand is said to be elastic when
Q102: At $5 per cup, customers will buy
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