Answer to Question #77534 in Microeconomics for Farah

Question #77534
What will be shape of the price consumption curve if X and Y are substitute goods. What can you about the own and cross price elasticities of demand, Explain using graph
1
Expert's answer
2018-05-24T09:37:07-0400
The price consumption curve is upward-sloping if X and Y are substitute goods. The own price elasticities of demand for these goods may be different and cross price elasticity of demand is positive.

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