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Business, 03.02.2020 23:52 adrianwoods1507

Suppose that when the price of good x falls from $10 to $8, the quantity demanded of good y rises from 20 units to 25 units. using the midpoint method, the cross-price elasticity of demand is:

a. -1.0, and x and y are complements.
b. -1.0, and x and y are substitutes.
c. 1.0, and x and y are complements.
d. 1.0, and x and y are substitutes.

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