A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2013 · Q81 Mark
A product is an inferior good with no close substitutes. It is also a complement to goo Which product matches the above description? [Table with columns: product, price elasticity of demand, income elasticity of demand, cross elasticity of demand with respect to the price of X]
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A-2 +2 +1
B-2 +2 -1
C-0.5 -2 +1
D-0.5 -2 -1
✓ Correct answer
D: -0.5 -2 -1
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