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Relationship between good c and good d

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Reference no: EM131181588

Suppose there are two goods, good C and good D. the cross-price elasticity of demand for these two goods is equal to - 0.8.

a. What is the relationship between good C and good D? Explain your answer.

b. Given that the cross price elasticity of demand is positive and you as a shop owner would like to sell more units of one of these goods. What do you hope will happen to the price of the other good? Explain your answer

Reference no: EM131181588

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