If the cross-price elasticity of demand for goods X and Y is zero, it would imply that a.price elasticity of demand for X is zero. b.price elasticity of demand for Y is zero. c.X and Y are unrelated. d.X and Y are substitutes. e.X and Y are complements.

Cross elasticity refers the responsiveness of the change in quantity demanded on commodity due to…

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If the cross-price elasticity of demand for goods X and Y is zero, it would imply that

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter20: Elasticity: Demand And Supply

Section: Chapter Questions

Problem 5E

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Question

If the cross-price elasticity of demand for goods X and Y is zero, it would imply that

	a.	price elasticity of demand for X is zero.
	b.	price elasticity of demand for Y is zero.
	c.	X and Y are unrelated.
	d.	X and Y are substitutes.
	e.	X and Y are complements.

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