If the cross price elasticity of demand is 1.9, the items are:

Name: If the cross price elasticity of demand is 1.9, the items are:
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Question

Quizplus · Accepted Answer

The cross price elasticity of demand measures the responsiveness of the quantity demanded for a good to a change in the price of another good. A positive cross price elasticity (greater than 0) indicates that the goods are substitutes, as the price increase of one good leads to an increase in demand for the other good. Since 1.9 is positive, the items are substitutes.

If the Cross Price Elasticity of Demand Is 1