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1 Aug 2018
You have the following information on the price elasticities of the demands for goods Y and X:
Goods Price elasticity Cross-price elasticity Income elasticity
Y -0.2 0.8 -0.8
X -0.5 0.9 -1.2
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 on the price elasticities of the demands for goods Y and X:
Goods Price elasticity Cross-price elasticity Income elasticity
Y -0.2 0.8 -0.8
X -0.5 0.9 -1.2
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 ______
Keith LeannonLv2
2 Aug 2018
