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Other types of Elasticities. Although this is not a focus for this section, I wanted you to see how
you can apply elasticities in different uses. You are given the following information about two
goods: Pick any two prices/quantities demanded and calculate the value for the cross-price
elasticity. Conclusion: These goods are (circle one) complements / substitutes because their cross
price elasticity is positive / negative.

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Other types of Elasticities. Although this is not a focus for this se.pdf

  • 1. Other types of Elasticities. Although this is not a focus for this section, I wanted you to see how you can apply elasticities in different uses. You are given the following information about two goods: Pick any two prices/quantities demanded and calculate the value for the cross-price elasticity. Conclusion: These goods are (circle one) complements / substitutes because their cross price elasticity is positive / negative.