Suppose Clyde Always Eats Ice Cream and Chocolate Syrup Together

question 74

Multiple Choice

Suppose Clyde always eats ice cream and chocolate syrup together. If the price of syrup increases by 10 percent, and the cross elasticity of demand is -2, the quantity of ice cream demanded

• A)increases by 5 percent.
• B)increases by 20 percent.
• C)decreases by 5 percent.
• D)decreases by 20 percent.
• E)decreases by 2 percent.

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