If coffee and tea are good substitutes for consumers, what can we conclude about their elasticity from this information? Their cross-price elasticities are greater than zero. Their income elasticities are less than zero. Their price elasticities of supply are less than one. O Their price elasticities of demand are less than one.

If coffee and tea are good substitutes for consumers, what can we conclude about their elasticity from this information? Their cross-price elasticities are greater than zero. Their income elasticities are less than zero. Their price elasticities of supply are less than one. O Their price elasticities of demand are less than one.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If coffee and tea are good substitutes for consumers, what can we conclude about their elasticity from this
information?
Their cross-price elasticities are greater than zero.
Their income elasticities are less than zero.
Their price elasticities of supply are less than one.
Their price elasticities of demand are less than one.

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