Question: There are two goods, A and B. Good A has Ed = 0.4 and Ey = 1.4. Good B has Ed = 2.3 and Ey
There are two goods, A and B. Good A has Ed = 0.4 and Ey = 1.4. Good B has Ed = 2.3 and Ey = - 3 Ea Pb = 4.5
Which of the following is true?
-Good A is inferior, good B is normal and goods A and B are complements
-Good A is elastic and normal, good B is inelastic and inferior
-Good A is inelastic, good B is elastic and goods A and B are complements
- Good A is normal, good B is inferior and goods A and B are substitutes
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