An economist estimated the cross-price elasticity for peanut butter and jelly to be -1.5. Based on this information, we know the goods are    a.  ​inferior goods.     b.  ​complements.     c.  ​inelastic.     d.  ​substitutes.

The price elasticity of demand for Craig's chocolate chip cookies is 1.5. Craig wants to increase his total revenue. Would you recommend that Craig raise or lower his price of chocolate chip cookies? Craig should the price of his chocolate chip cookies because the demand for chocolate chip cookies is A. lower; elastic B. lower; unit elastic C. raise; elastic D. raise; inelastic E. lower; inelastic

If the cross-price elasticity of demand for good A when the price of B changes is negative that indicates:   a.     That goods A and B are supplementary goods. b.     That goods A and B are complementary goods. c.     That goods A and B are necessity goods. d.     That goods A and B are inferior goods.