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A. The cross elasticity of demand for Ziggles and Wonkers equals 3.6. Are they substitutes or complements?

B. The cross elasticity of demand for Frizzles and Fuzztops equals -5.1. Are they substitutes or complements?

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Divya Singh
Divya SinghLv10
28 Sep 2019
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Related questions

The cross elasticity of demand for Goods T and U is 0.19. Goods T and U are:

a. substitutes

b. complements

c. both a and b

d. None of the above

1. The value of cross price elasticity of demand between goods A and B is 0.75, while the cross price elasticity of demand between goods A and C is -1.38. Characterize A & B and A & C as substitutes or complements. Explain why this is the case.

38. Last month, sellers of Good Y's revenue was $100 and sold 50 units of Good Y. This month sellers of Good Y raised their price, received $120 in revenue and sold 40 units of Good Y. At the same time, the price of Good X stayed the same, but sales of Good X increased from 20 units to 40 units. What can we conclude about Goods X and Y? a. They are substitutes, and have a cross-price elasticity of 0.60. b. They are complements, and have a cross-price elasticity of 0.60. c. They are substitutes, and have a cross-price clasticity of 1.67. d. They are complements, and have a cross-price elasticity of 1.67.

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