If demand for product "A" displays high and positive cross-price elasticity with respect to the...
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If demand for product "A" displays high and positive cross-price elasticity with respect to the price of product "B", then:1) the demand for product "A" is likely to have a high price elasticity. 2) products "A" and "B" are substitutes. 3) "A" and "B" are complements. 4) the demand for product "B" is likely to have a low price elasticity. What is the correct answer ?
1) the demand for product "A" is likely to have a high price elasticity.
2) products "A" and "B" are substitutes.
3) "A" and "B" are complements.
4) the demand for product "B" is likely to have a low price elasticity.
What is the correct answer ?
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