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Economics (AS & A Level) · May / June 2023 · Paper 11 · Question 5

9708Price elasticity, income elasticity and cross elasticity of demand

Which row correctly describes the relationship between two goods implied by the value of the cross elasticity of demand?

  1. A–2.0 weak complements
  2. B–0.5 weak substitutes
  3. C+0.5 weak substitutes
  4. D+2.0 strong complements

As printed in the paper

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Correct answer: C. +0.5 weak substitutes

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