Negative-positive coefficient in cross-elasticity of demand
When you compute cross-elasticity of demand, what are you trying to find out? What do a negative coefficient and a positive coefficient imply?
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You are trying to find out whether pair of goods is complements or substitutes. A negative coefficient implies a substitute when a positive coefficient implies a complementary good.
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When the firm produced at output level q2, this produced where: (w) MR = MC. (x) MR > MC. (y) MR < MC. (z) P < MC. Discover Q & A Leading Solution Library Avail More Than 1418817 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1954396 Asked 3,689 Active Tutors 1418817 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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