Problem
1. What is a Giffen good?
2. What are complements and substitutes?
3. When the cross-price elasticity of demand is positive, are the two goods complements or substitutes? What type of goods have a negative cross-price elasticity?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.