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If the cross-price elasticity of demand between goods X and Y is 1, which of the following must be true? Answer choices: A)An increase in
If the cross-price elasticity of demand between goods X and Y is 1, which of the following must be true?
Answer choices:
A)An increase in the price of good X leads to a decrease in the quantity demanded of good Y.
B) They are substitutes.
C) A percent change in the price of good X is matched by an equal change in the price of good Y.
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