Choose the "If two goods are complements, their O a. Cross-price elasticity, positive O b. Cross-price elasticity; negative O c. Own-price elasticity, negative O d. Own-price elasticity; positive IS

Assume the price of good Y increases by 2% and the cross price elasticity of demand with good X is 1. What economic classification describes good X in this situation? Select one: O a. An inferior good O b. A complement Oc. A substitute Od. A normal good

i need 2 answers

A firm selling ready meals discovers that the price elasticity of its product is -2.5 and the income elasticity of its product is 1.5. Given Not this information, which of the following statements are true? Mar PF Select one or more: O a. A 10% rise in consumer income will lead to a 1.5% rise in sales of its ready meals. O b. A 5% rise in the price of its product will lead to a 12.5% fall in sales of its ready meals. O C. A 4% fall in the price of its product will lead to a 10% fall in sales of its ready meals. O d. A 6% rise in consumer income will lead to a 9.0% rise in sales of its ready meals.