The cross-price elasticity of demand for Goods A and B is equal to one. O A. A and B have the same unit price. O B. A and B are complement goods. O C. A and B are perfect complements. O D. A and B are substitute goods.

The cross-price elasticity of demand for Goods A and B is equal to one. O A. A and B have the same unit price. O B. A and B are complement goods. O C. A and B are perfect complements. O D. A and B are substitute goods.

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

The cross-price elasticity of demand for Goods A and B is equal to one.
O A. A and B have the same unit price.
O B. A and B are complement goods.
O C. A and B are perfect complements.
O D. A and B are substitute goods.

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