Match each of the terms to their definition or description. (NOTE: This question is in reference to Cross-Price Elasticity and Income Elasticity.)                                                             Complements                                                             Inferior good                                                             Normal Good                                                             Substitutes A. as incomes increase, demand decreases; Income elasticity less than zero B. goods that have a cross-price elasticity less than zero C. as incomes increase, demand increases; Income elasticity greater than zero D. goods that have a cross-price elasticity greater than zero

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Match each of the terms to their definition or description. (NOTE: This question is in reference to Cross-Price Elasticity and Income Elasticity.)

                                                           

Complements

                                                           

Inferior good

                                                           

Normal Good

                                                           

Substitutes

A.

as incomes increase, demand decreases; Income elasticity less than zero

B.

goods that have a cross-price elasticity less than zero

C.

as incomes increase, demand increases; Income elasticity greater than zero

D.

goods that have a cross-price elasticity greater than zero

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