Suppose That the Quantity of Cars Sold Decreases by 5

question 25

Multiple Choice

Suppose that the quantity of cars sold decreases by 5 per cent after the price of motorbikes decreases by 20 per cent.What is the coefficient of the cross elasticity of demand?

• A)3.
• B)1.5.
• C)0.25.
• D)2.
• E)0.3.

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Definitions:

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