There are three goods you are interested in purchasing, X, Y, and Z. You notice that the price of Z has fallen. Given that the cross elasticity between Z and Y is –1.5 and the cross price elasticity between Y and X is 3.0, it would make sense that
a. Y and X are substitutes; X and Z are substitutes
b. Z and X are complements; Y and X are substitutes
c. Y and X are substitutes; Y is complementary to Z
d. X and Z are unrelated; Y is complementary to X
e. X and Z are complements; Y and Z are substitutes
C
Economics
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A major disruption in financial markets characterized by sharp declines in asset prices and firm failures is called a
A) financial crisis. B) fiscal imbalance. C) free-rider problem. D) "lemons" problem.
Economics
The economy is considered to be at full employment when the rate of cyclical unemployment is zero
Indicate whether the statement is true or false
Economics