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18 Aug 2019
You have the following information for goods X and Y:
Goods Price elasticity Cross-price elasticity Income elasticity
X -0.4 -0.7 -1.8
Y -0.9 -0.7 0.6
Fill out the spaces in the following statements:
Based on the price elasticity, we can say that good X is price ___________________
Based on the cross-price elasticity, we can say that goods X and Y are _______________
Based on the income elasticity, we can say that good Y is _________________
You have the following information for goods X and Y:
Goods Price elasticity Cross-price elasticity Income elasticity
X -0.4 -0.7 -1.8
Y -0.9 -0.7 0.6
Fill out the spaces in the following statements:
Based on the price elasticity, we can say that good X is price ___________________
Based on the cross-price elasticity, we can say that goods X and Y are _______________
Based on the income elasticity, we can say that good Y is _________________
13 Jun 2022
13 Jun 2022
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