The Cross-Price Elasticity of Demand Between Goods X and Y

question 20

Multiple Choice

The cross-price elasticity of demand between goods X and Y

• A)measures the responsiveness of the quantity of X demanded to changes in the price of Y.
• B)is the percentage change in the price of Y divided by the percentage change in the quantity of X demanded.
• C)is greater than zero if X and Y are substitutes.
• D)both a and c
• E)all of the above

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