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unit-4-demand-function-and-elasticity

Unit-4 Demand Function and Elasticity

In this unit we will be focussing on the consumer’s demand function for a good .

If cross elasticity of demand for X is 2.5 in terms of price of Y, is commodity X a substitute or complement of commodity Y?




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Learning Pundits Content Team

Written on Jun 26, 2019 6:21:03 PM

Since the sign is positive it is a substitute commodity.