As the Price of good Y changed from Py1 to Py2, Quantity demanded for good X changed from Qx1 to Qx2. Using the midpoint method, answer the following:

Goods X and Y are? the cross price elasticity of demand is?

Select one:

a.

substitutes; 3

b.

substitutes; -3

c.

complements; 3

d.

complements; -3

Price Quantity Price Quantity Income Quantity

P₁ 9.00 Q₁ 1.000 P_y1 8.00 Q_x1 2.000 Income₁ $28,000.00 Q₁ 50.00

P₂ 8.00 Q₂ 2.000 P_y2 7.00 Q_x2 3.000 Income₂ $30,000.00 Q₂ 52.00