Referring to the previous question,all else constant,a one unit increase in the price of good Y would cause the quantity demanded of good X to:

Name: Referring to the previous question,all else constant,a one unit increase in the price of good Y would cause the quantity demanded of good X to:
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Question

Quizplus · Accepted Answer

The correct answer is A because the cross-price elasticity of demand is negative, indicating that an increase in the price of one good will lead to a decrease in the demand for the other good.

Referring to the Previous Question,all Else Constant,a One Unit Increase