<u>The need to form compacts with other states:</u>
They make compact agreements with other states because they wanted to achieve together and what the neighbouring states having the problems of doing alone. They make the contract for the sharing enforcement data and the development of the water,oil, wildlife.
They believe the full faith and credits clause of the constitution and require each states to honour and enforce the laws, official documents and the court ruling of other states. The states of the compacts to form one to another to have the relationship with the other states.
Answer:
The cross-price elasticity is - 0.8.
Explanation:
The price of antique furniture increased by 10 percent and the quantity demanded decreased by 30 percent, and with no change in the price of refinishing products, the quantity of refinishing products demanded decreased by 8 percent.
The cross-price elasticity of demand measures the change in the demand for a product due to a change in the price of a related good. Negative cross-price elasticity means the goods are complements. Positive cross-price elasticity implies that the goods are substitutes.
Cross price elasticity
=
=
= - 0.8
The cross price elasticity is negative which means that the goods are complements.