If the Cross-Price Elasticity of Demand Between Good a and Good

question 103

Multiple Choice

If the cross-price elasticity of demand between Good A and Good B is 2 and the percentage change in price of Good A is 5%, what is the percentage change in quantity demanded of Good B?

• A) 3%
• B) 10%
• C) -1.25%
• D) 1.50%
• E) -3%

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Definitions:

Racist

A person who believes in racism, the belief that one race is superior to others, often resulting in discrimination and prejudice towards people based on their race or ethnicity.

Civil Rights Movement

A historical social movement in the United States aimed at ending racial segregation and discrimination against African Americans and securing legal recognition and federal protection of the citizenship rights enumerated in the Constitution and federal law.

Mahatma Mohandas Gandhi

An Indian lawyer and anti-colonial nationalist who led the campaign for India's independence from British rule through non-violent protest.

Black Power Movement

A political and social movement in the 1960s and 1970s emphasizing racial pride, economic empowerment, and the creation of political and cultural institutions for African Americans.