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12-02-2024
Business

contestada

Suppose 8,000 units of good X are sold when the price of good Y is $5 and that 10,000 units of good X are sold when the price of good Y is $7. Which statement is correct?

a.The cross-price elasticity of demand is -2/3 and the good are substitutes.
b.The cross-price elasticity of demand is 2/3 and the good are complements.
c.The cross-price elasticity of demand is -2/3 and the good are complements.
d. The cross-price elasticity of demand is 2/3 and the good are substitutes.

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