Home » Demand and Supply MCQs » When cross elasticity of demand is a large positive number, one can conclude that Demand and Supply MCQs When cross elasticity of demand is a large positive number, one can conclude that September 27, 2022 43 Views Q. When cross elasticity of demand is a large positive number, one can conclude that:The good is normalThe good is inferiorThe good is a substituteThe good is a complementAnswer: The good is a substitute
The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to