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If the cross-price elasticity of demand for two goods is -4.5, then O a. the two goods are complements. b. one of the goods is normal while the other good is inferior. C. the two goods are substitutes. d.one of the goods is a luxury while the other good is a necessity.

If the cross-price elasticity of demand for two goods is -4.5, then O a. the two goods are complements. b. one of the goods is normal while the other good is inferior. C. the two goods are substitutes. d.one of the goods is a luxury while the other good is a necessity.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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question 18
C. time horizon. d. income of consumers. QUESTION 18 If the cross-price elasticity of demand for two goods is -4.5, then a. the two goods are complements. b. one of the goods is normal while the other good is inferior. C. the two goods are substitutes. d. one of the goods is a luxury while the other good is a necessity. QUESTION 19 Total reirenue
Transcribed Image Text:C. time horizon. d. income of consumers. QUESTION 18 If the cross-price elasticity of demand for two goods is -4.5, then a. the two goods are complements. b. one of the goods is normal while the other good is inferior. C. the two goods are substitutes. d. one of the goods is a luxury while the other good is a necessity. QUESTION 19 Total reirenue
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