Question
Month Soup Price Electricity Quantity Demanded January $29 110 February $31 127 March $32 99 April $23 93 May $35 88 Assume we are comparing
Month Soup Price Electricity Quantity Demanded January $29 110 February $31 127 March $32 99 April $23 93 May $35 88
| Month | Soup Price | Electricity Quantity Demanded |
|---|---|---|
| January | $29 | 110 |
| February | $31 | 127 |
| March | $32 | 99 |
| April | $23 | 93 |
| May | $35 | 88 |
Assume we are comparing two goods: Soup and Electricity. What is cross-price elasticity of demand for March and the relationship between the two goods?
Group of answer choices
-8.33, and they are complementary goods
5.47, and they are substitute goods
-3.89, and they are complementary goods
-11.83, and they are independent goods
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The Economic Development Of Latin America Since Independence
Authors: Luis Bértola, Luis Bértola
1st Edition
0191638242, 9780191638244
