Answer to Question #211118 in Economics for Samke

Question #211118

the price of both goods X and Y increase by 8%. this change in price result in a 4% decrease in the quantity demanded of good X , and a 25% decrease in the quantity demanded of good Y. this difference may be because


1
Expert's answer
2021-06-28T17:03:03-0400

The demand for good X is more elastic than the demand for good Y.


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