two goods whose cross-price elasticity of demand is negative are defined to be [...].
Answer
complements
If you want to change selection, open original toplevel document below and click on "Move attachment"
Parent (intermediate) annotation
Open it two goods whose cross-price elasticity of demand is negative are defined to be complements . Typically, these goods would tend to be consumed together as a pair, such as gasoline and automobiles or houses and furniture
Original toplevel document
4.4. Cross-price Elasticity of Demand: Substitutes and Complements eer. When the price of one of your favorite brands of beer rises, what would you do? You would probably buy less of that brand and more of a cheaper brand, so the cross-price elasticity of demand would be positive.
Alternatively, <span>two goods whose cross-price elasticity of demand is negative are defined to be complements . Typically, these goods would tend to be consumed together as a pair, such as gasoline and automobiles or houses and furniture. When automobile prices fall, we might expect the quantity of autos demanded to rise, and thus we might expect to see a rise in the demand for gasoline. Ultimately, though, whether two
Summary
status
not learned
measured difficulty
37% [default]
last interval [days]
repetition number in this series
0
memorised on
scheduled repetition
scheduled repetition interval
last repetition or drill
Details
No repetitions
Discussion
Do you want to join discussion? Click here to log in or create user.