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When the price of a bicycle falls from $220 to $180 and other things remain the same: 1. The quantity of bicycles demanded increases from

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When the price of a bicycle falls from $220 to $180 and other things remain the same: 1. The quantity of bicycles demanded increases from 150 to 250 a day. 2. The quantity of skateboards demanded decreases from 125 to 75 a day. Are skateboards and bicycles substitutes or complements? What is the cross elasticity of demand for skateboards with respect to bicycles? E> Skateboards and bicycles are 11:} A. substitutes because the cross elasticity of demand is negative {:3 B. complements because cross elasticity of demand is positive 11:} C. substitutes because the cross elasticity of demand is positive The cross elasticity of demand for skateboards with respect to bicycles is D. >>> Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign

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