Which of the Following Expressions Represents a Cross-Price Elasticity of Demand

question 164

Multiple Choice

Which of the following expressions represents a cross-price elasticity of demand?

• A)percentage change in quantity demanded of apples divided by percentage change in quantity supplied of apples
• B)percentage change in quantity demanded of apples divided by percentage change in price of pears
• C)percentage change in price of apples divided by percentage change in quantity demanded of apples
• D)percentage change in quantity demanded of apples divided by percentage change in income

---

Definitions:

Decline

A gradual decrease in quality, quantity, or significance of something, such as economic performance, population numbers, or social values.

Global Warming

Global warming is the long-term rise in Earth's average surface temperature due to human activities, especially the emission of greenhouse gases, leading to climate change impacts.

Dangers Information

Information regarding potential threats or risks that can affect individual or public safety, health, and well-being.

Profit

The financial gain achieved when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the operation.