If the Quantity Demanded of Soda Increases by 4% When

question 64

Multiple Choice

If the quantity demanded of soda increases by 4% when the price of coffee increases by 16%,the cross-price elasticity of demand between soda and coffee is:

• A)-0.25.
• B)0.25.
• C)-12.0.
• D)12.0.

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Definitions:

Negligence Action

A legal claim filed by someone who was harmed because of another party's failure to act with reasonable care.

Duty Of Care

A legal obligation imposed on an individual requiring adherence to a standard of reasonable care while performing any acts that could foreseeably harm others.

Breach

The violation of a legal obligation, rule, or agreement.

Legally Recognizable Injury

A harm or loss that the law considers sufficient to provide a basis for a lawsuit.