Economics 9708 · AS & A Level · 1.6

1.6 — practice question

One product is an inferior good with no close substitutes. It also acts as a complement to good X. Which product fits the description above?

  • Aprice elasticity of demand -2; income elasticity of demand +2; cross-elasticity of demand with respect to the price of X +1
  • Bprice elasticity of demand -2; income elasticity of demand +2; cross-elasticity of demand with respect to the price of X -1
  • Cprice elasticity of demand -0.5; income elasticity of demand -2; cross-elasticity of demand with respect to the price of X +1
  • Dprice elasticity of demand -0.5; income elasticity of demand -2; cross-elasticity of demand with respect to the price of X -1

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