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Last Month,sellers of Good Y Took in $150 and Sold

Question 123

Multiple Choice
Last month,sellers of good Y took in $150 and sold 50 units of good Y.This month sellers of good Y raised their price,took in $160 and sold 40 units of good Y.At the same time,the price of good X stayed the same,but sales of good X increased from 20 units to 40 units.What can we conclude about goods X and Y
A)They are substitutes, and have a cross-price elasticity of 0.43.
B)They are complements, and have a cross-price elasticity of 0.43.
C)They are substitutes, and have a cross-price elasticity of 2.33.
D)They are complements, and have a cross-price elasticity of 2.33.

Last month,sellers of good Y took in $150 and sold 50 units of good Y.This month sellers of good Y raised their price,took in $160 and sold 40 units of good Y.At the same time,the price of good X stayed the same,but sales of good X increased from 20 units to 40 units.What can we conclude about goods X and Y


A) They are substitutes, and have a cross-price elasticity of 0.43.
B) They are complements, and have a cross-price elasticity of 0.43.
C) They are substitutes, and have a cross-price elasticity of 2.33.
D) They are complements, and have a cross-price elasticity of 2.33.

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