Which of the following pairs of goods is likely to have a negative cross-price elasticity of demand?
A)pancakes and syrup
B)hot dogs and hamburgers
C)orange juice and grapefruit juice
D)peanuts and cat food

Question

Quizplus · Accepted Answer

Pancakes and syrup are complementary goods, meaning that an increase in the price of one leads to a decrease in the demand for the other, resulting in a negative cross-price elasticity of demand.

Which of the Following Pairs of Goods Is Likely to Have