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Can you please help me with this question You are required to provide brief explanations (3 to 5 sentences) for the correct answer Question 4

Can you please help me with this question

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You are required to provide brief explanations (3 to 5 sentences) for the correct answer Question 4 Good Income Own price Cross price elasticity of demand for good elasticity elasticity X with respect to the price of good Y X 0.5 0.5 - 0.5 Y -1.5 1.5 Refer to the table below, good X is good Y is and good X and Y are A) a luxury good; price elastic; complementary goods B) an inferior good; price inelastic; substitute goods C) a necessity good; price elastic; substitute goods D) a necessity good; price elastic; complementary goods Answer: D

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