Asked by
Bernice Aguilar
on Oct 12, 2024
Verified
When the cross elasticity of demand is ________,the goods or services are ________.
A) zero;substitutes
B) negative;substitutes
C) positive;complements
D) positive;substitutes
Cross Elasticity
An indicator of the sensitivity in demand for a certain product in response to price fluctuations of a different product.
- Acquire an understanding of the cross elasticity of demand and its role in determining whether goods are substitutes or complements.
Verified Answer
TB
Learning Objectives
- Acquire an understanding of the cross elasticity of demand and its role in determining whether goods are substitutes or complements.
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