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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
Expert's answer
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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