The cross price elasticity of demand for substitutes goods is:Question 9Select one:a.negative.b.positive.c.equal to 1.d.positive only for normal goods.
Question
Solution 1
The cross price elasticity of demand for substitute goods is:
b. positive.
This is because when the price of one good increases, the demand for its substitute good also increases, indicating a positive relationship. Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI is a powerful AI-powered study tool designed to help you to solve stud
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