If beef and pork are substitutes for consumers, the cross elasticity of demand between the two products must be
A) positive.
B) greater than 1.
C) elastic.
D) negative.
E) indeterminate.

Question

Quizplus · Accepted Answer

If beef and pork are substitutes, an increase in the price of beef will lead to an increase in demand for pork, and vice versa. This means that the cross elasticity of demand between the two products is positive.

If Beef and Pork Are Substitutes for Consumers, the Cross