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06-04-2024
Business

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Suppose the absolute price of good X is $128, the absolute price of good Y is $40, and the absolute price of good Z is $160:
a) The cross-price elasticity between X and Y is negative.
b) The cross-price elasticity between X and Z is positive.
c) The cross-price elasticity between Y and Z is positive.
d) The income elasticity for good X is likely positive.

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