Are the following pairs of goods substitutes or complements? Indicate whether their cross-price elasticities are negative or
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Are the following pairs of goods substitutes or complements? Indicate whether their cross-price elasticities are negative or positive.
a. Bread and butter
b. Bread and potatoes
c. Socks and shoes
d. Tennis rackets and golf clubs
e. Bicycles and automobiles
f. Foreign investments and domestic investments
g. Cars made in Japan and cars made in the United States
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