Economics · Consumer Behaviour
Which of the following statements is correct regarding the cross elasticity of demand between two goods?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1When two goods are jointly demanded (complements), the cross elasticity is negative.✓
- 2When two goods are complements, the cross elasticity is positive.
- 3When two goods are completely independent, the cross elasticity is infinite.
- 4When two goods are perfect substitutes, the cross elasticity is zero.
Correct answer
When two goods are jointly demanded (complements), the cross elasticity is negative.
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