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Suppose that the cross-price elasticity of demand for ice cream with respect to the price of chocolate is -0.20.If the price of chocolate increases by

Suppose that the cross-price elasticity of demand for ice cream with respect to the price of chocolate is -0.20.If the price of chocolate increases by 10%, then the quantity demanded of ice cream would _________ because ice cream and chocolate are considered _____________.

a.Decrease by 2%, complements.

b.Decrease by 2%, substitutes.

c.Increase by 5%, complements.

d.Decrease by 50%, inferior goods.

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