The cross elasticity between oranges and pears is -0.78, then 2 goods are ?
Expert's answer
They are complementary goods.
The -0.78 cross elasticity means that as the price of one commodity (oranges) increases, the demand quantity for an associated commodity (pears) decreases.
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot