Are aluminum and steel substitutes or complements

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Reference no: EM13201250

If the cross-price elasticity of aluminum with respect to steel is 2.0:

a) what happen to the quantity demanded of aluminum if the price of steel increases?

b) Are aluminum and steel substitutes or complements?

c) what would happen to the quantity demanded of aluminum if the price of steel were to rise by 1% next year?

Reference no: EM13201250

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