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When the price of good A is $20, the quantity of good B purchased is 400. When the price of good A is $30,
When the price of good A is $20, the quantity of good B purchased is 400. When the price of good A is $30, the quantity of good B purchased is 750. The cross elasticity of demand between goods A and B is A. 1.53, and the goods are substitutes. B. 1.53, and the goods are complements. C. 0.66, and the goods are substitutes. D. 0.66, and the goods are complements.
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Small Business Management Launching & Growing Entrepreneurial Ventures
Authors: Justin Longenecker, William Petty, Leslie Palich, Frank Hoy
17th edition
9781285972565, 1133947751, 1285972562, 978-1133947752
