Which of the following is correct?
A) The cross elasticity of demand for substitute goods is positive.
B) The cross elasticity of demand for substitute goods is negative.
C) The cross elasticity of demand equals the percentage change in demand divided by the percentage change in income.
D) The income elasticity of demand for a normal good is negative.
E) The cross elasticity of demand for normal goods is positive.
Correct Answer:
Verified
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