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.

---

Definitions:

Limited Partners

Individuals in a partnership who invest money but are not involved in daily management, and whose liability is limited to the amount of their investment.

General Partners

General partners are individuals in a partnership who are responsible for the operations of the business and are personally liable for the partnership's debts and obligations.

Management

The process or practice of directing and controlling a group or organization towards achieving set goals or objectives.

Joint Venture

An association between two or more parties wherein the parties share profits and management responsibilities with respect to a specific project.