If the Cross-Price Elasticity of Demand Between Fish and Chicken

question 3

Multiple Choice

If the cross-price elasticity of demand between fish and chicken is 2, then a 2% increase in the price of fish will result in a ________ in the quantity of chicken demanded.

• A) 1% increase
• B) 4% increase
• C) 10% increase
• D) 20% decrease

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