For substitutes:
A) cross-price elasticity of demand can be a negative value.
B) cross-price elasticity of demand can be any positive value.
C) cross-price elasticity of demand can be any value less than 1.
D) price elasticity of demand can be any positive value.

Question

Quizplus · Accepted Answer

For substitutes, the cross-price elasticity of demand is positive, indicating that as the price of one good increases, the demand for the substitute good also increases.

For Substitutes