when elasticity of demand is positive ([describe how price of one good and quantity demanded of other good behave]), we say those goods are substitutes.
Answer
price of one up, quantity demanded for the other up
when elasticity of demand is positive ([describe how price of one good and quantity demanded of other good behave]), we say those goods are substitutes.
when elasticity of demand is positive ([describe how price of one good and quantity demanded of other good behave]), we say those goods are substitutes.
Answer
price of one up, quantity demanded for the other up
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Parent (intermediate) annotation
Open it elasticity of demand is positive (price of one up, quantity demanded for the other up), we say those goods are substitutes
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p36
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