Question
When the price of good X falls and other things remain the same: 1. The quantity of good X demanded increases, 2. The quantity of
When the price of good X falls and other things remain the same: 1. The quantity of good X demanded increases, 2. The quantity of good Y demanded decreases, and 3. The quantity of good Z demanded increases Because a fall in the price of good X brings O A. a decrease in the quantity of good Y, good X and good Y are complements O B. a change in the quantity of both good Y and good Z, all three goods are substitutes. C. an increase in the quantity of good ?, good Y and good Z are substitutes O D. an increase in the quantity of good Z, good X and good Z are substitutes. O E. a decrease in the quantity of good Y, good X and good Y are substitutes. The cross elasticity of demand for good Y with respect to the price of good Xis O A. positive . B. negative ? C, less than 1 OD. zero
When the price of good X falls and other things remain the same: 1. The quantity of good X demanded increases, 2. The quantity of good Y demanded decreases, and 3. The quantity of good Z demanded increases. Because a fall in the price of good X brings A. a decrease in the quantity of good Y, good X and good Y are complements. B. a change in the quantity of both good Y and good Z, all three goods are substitutes. C. an increase in the quantity of good Z, good Y and good Z are substitutes D. an increase in the quantity of good Z, good X and good Z are substitutes. E. a decrease in the quantity of good Y, good X and good Y are substitutes. The cross elasticity of demand for good Y with respect to the price of good X is_ OO A. positive B. negative C. less than 1 D. zero
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