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Recommended textbook solutions Krugman's Economics for AP2nd EditionDavid Anderson, Margaret Ray 1,042 solutions Principles of Economics8th EditionN. Gregory Mankiw 1,333 solutions Principles of Microeconomics8th EditionN. Gregory Mankiw 889 solutions Essentials of Investments7th EditionAlan J. Marcus, Alex Kane, Zvi Bodie 425 solutions What can be said about goods X and Y if the cross price elasticity between X and Y is negative multiple choice question?If the cross-price elasticity of demand for goods X and Y is negative, this means the two goods are d. complements.
When cross elasticity between x and y is greater than zero or positive x and y are?The correct option is: a.
A cross-price elasticity greater than zero implies a positive cross-price elasticity. For substitute goods, the cross-price elasticity of demand is always positive.
When cross price elasticity is negative the two goods are?A negative cross elasticity denotes two products that are complements, while a positive cross elasticity denotes two products are substitutes. If products A and B are complements, an increase in the price of B leads to a decrease in the quantity demanded for A, as A is used in conjunction with B.
What is the significance of a positive cross elasticity coefficient between products X and Y?A positive cross price elasticity between two goods implies that an increase in price of one good leads to an increase in the demand for the other good. A higher cross price elasticity implies a higher substitutability.
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What can be said about goods x and y if the cross-price elasticity between x and y is negative?
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