question archive Suppose the cross-price elasticity between good X and good Y is -1
Suppose the cross-price elasticity between good X and good Y is -1
Subject:EconomicsPrice:2.88 Bought3
Suppose the cross-price elasticity between good X and good Y is -1.6, and the price of good Y increases. We can conclude that:
A. demand for good X increases.
B. demand for good X decreases.
C. demand for good X remains unchanged.
D. demand for good X increases only if there is a recession in the economy.
E. None of the above.
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