If a 10 percent increase in the price of product X causes the demand for product Y to decrease by 15 percent,then:
A) X and Y are substitutes.
B) X and Y are complements.
C) X and Y are independent goods.
D) the demand for X is elastic.

Question

Quizplus · Accepted Answer

The Answer of If a 10 percent increase in the price of product X causes the demand for product Y to decrease by 15 percent,then:
A) X and Y are substitutes.
B) X and Y are complements.
C) X and Y are independent goods.
D) the demand for X is elastic.

If a 10 Percent Increase in the Price of Product