Cross elasticity of demand for Commodity-X and Commodity-Y is (-) 0.5. It means that —

CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · December 2013
Cross elasticity of demand for Commodity-X and Commodity-Y is (-) 0.5. It means that —
(A) Commodity-X and Commodity-Y are not related
(B) An increase in price of Commodity-Y results in a fall in the price of Commodity-X
(C) Commodity-X and Commodity-Y are substitute goods
(D) None of the above.

Answer & Explanation:

Correct Answer: Option (D)

Correct answer: (D) None of the above..

Topics: Business Economics

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