If the Quantity of Chicken Demanded Increases by 1

question 76

Multiple Choice

If the quantity of chicken demanded increases by 1.25 percent when the price of beef increases by 2.5 percent,the cross elasticity of demand between chicken and beef is

• A)3.125.
• B)-3.125.
• C)-0.5.
• D)2.0.
• E)0.5.

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Bureau of Labor Statistics

An agency of the U.S. Department of Labor that collects, processes, analyzes, and disseminates essential statistical data to the American public, the U.S. Congress, other Federal agencies, State and local governments, business, and labor.

Unemployment Rate

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Unemployment Rate

The ratio of the labor force that finds itself without employment but are in the hunt for work.