When the Price of Pens Went from $1 to $1

question 243

Multiple Choice

When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pens using the initial value formula) is:

• A)0.8.
• B)0.4.
• C)0.2.
• D)Cannot be determined from the information provided.

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The series of steps and actions by which governments create and implement public policy, including agenda setting, policy formulation, adoption, implementation, and evaluation.

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A federal health insurance program in the United States for people aged 65 and over, as well as for some younger people with disabilities.