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24 November, 15:30

For complements, cross price elasticity of demand is: a. Positive b. Negative c. between zero and one only d. zero.

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  1. 24 November, 18:57
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    b. Negative

    Explanation:

    The cross-price elasticity of demand refers to how the demand for a good should respond when the price of that good changes.

    In this, the substitutes and the complementary goods are considered

    In the case of substitutes goods, it shows a positive relationship between the demand and the price of a good. So, the cross-price elasticity of demand is positive

    Whereas in the case of the complementary goods, it shows an inverse relationship between the demand and the price of a good. So, the cross-price elasticity of demand is negative
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