Kristin buys bips and bops. Her cross price elasticity of demand between the two goods equals -2.7. This means that Kristin considers bips and bops to be complements, and it means that when the price of bips increases by 10% the quantity demanded of bops will decrease by 27%.

Select one:

a. True
b. False

Answer rating: 100% (QA)

b False The cross price elasticity of demand is a measure of the respo... View the full answer