If a study shows that two goods have a high negative cross elasticity of demand value, then the two goods are competing in the same market.

Name: If a study shows that two goods have a high negative cross elasticity of demand value, then the two goods are competing in the same market.
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Question

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A high negative cross elasticity of demand indicates that the two goods are complements, meaning that an increase in the price of one leads to a decrease in the demand for the other, not competitors.

If a Study Shows That Two Goods Have a High