In response to a price change for good Y, if the cross-elasticity of demand for good Y is positive, good X and good Y are complements
a. True
b. False
Indicate whether the statement is true or false
False
Economics
You might also like to view...
Given the following information, calculate personal consumption expenditures
GDP $5,000 Gross Private Domestic Investment $1,500 Government Consumption Expenditures and Gross Investment $1,000 Net Exports -$500
Economics
If a monopolist produces to a point at which marginal revenue is more than marginal cost then
A) the firm should increase output. B) the firm should reduce output. C) the firm is maximizing profits. D) we do not know if the firm should increase or reduce without more information.
Economics