What does a cross elasticity of demand value of -2 indicate about the relationship between two products?

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The goods are alternatives and exhibit elastic cross-price demand.The goods are alternatives and have inelastic cross-price demand.The goods are complementary and display elastic cross-price demand.The goods are complementary and show inelastic cross-price demand.No relationship can be determined from this value.

Explanation

A negative cross elasticity of demand signifies that the products are complements. Since the absolute value is greater than 1 (|-2|=2), the demand is considered cross-price elastic, meaning quantity demanded is highly responsive to price changes in the related good.