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If the Value of the Cross Price Elasticity of Demand

Question 113

Multiple Choice

If the value of the cross price elasticity of demand of good X for a change in good Y's price is less than 0, then:


A) the goods are complementary.
B) the goods are substitutes.
C) demand is said to be inelastic.
D) the goods are superior goods.
E) demand is said to be elastic.

Correct Answer:

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