Question: there are two goods good a and good b for...
There are two goods, good A and good B. For each question, select the correct answer from the dropdown box.
(a) Suppose that when the price of Good A increases from $4 to $5, the demand for Good B decreases from 55 units to 40 units. Using the midpoint formula, the cross price elasticity of demand for good B with respect to the price of good A is
(b) Of the following, which is the best example of what Good A and Good B may be?
i) butter and margarine
ii) printer and ink