When the price of product R decreases from $46 to $40, the quantity demanded of product S

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When the price of product R decreases from $46 to $40, the quantity demanded of product S increases from 13,000 to 15,500. Based on this, the cross elasticity of demand of products R and S is _____ and these two products are _____.

A. negative, complements

B. negative, substitutes

C. positive, complements

D. positive, substitutes

Related Book For answer-question

Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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Posted Date: Mar 12, 2019 10:05 AM

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When the price of product R decreases from $46 to $40, the quantity demanded of product S

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Option A R S change in R change in S CrossPrice Ed 46 130... View the full answer

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