If the cross-price elasticity of demand for good X with respect to good Y equals 0, how is that value interpreted? These goods are complements, and the quantity demanded of good X increases if the price of good Y decreases. These goods are unrelated, and a change in the price of good Y has no effect on the quantity of good X demanded. These goods are normal goods, and a change in buyers income increases the quantity demanded of good X. These goods are substitutes, and the quantity demanded of good X

If the cross-price elasticity of demand for good X with respect to good Y equals 0, how is that value interpreted? These goods are complements, and the quantity demanded of good X increases if the price of good Y decreases. These goods are unrelated, and a change in the price of good Y has no effect on the quantity of good X demanded. These goods are normal goods, and a change in buyers income increases the quantity demanded of good X. These goods are substitutes, and the quantity demanded of good X

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 8QFR

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Question

If the cross-price elasticity of demand for good X with respect to good
Y equals 0, how is that value interpreted?
These goods are complements, and the quantity demanded of good X
increases if the price of good Y decreases.
These goods are unrelated, and a change in the price of good Y has no effect
on the quantity of good X demanded.
These goods are normal goods, and a change in buyers income increases
the quantity demanded of good X.
These goods are substitutes, and the quantity demanded of good X
decreases if the price of good Y decreases.

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