Suppose a Fall from $110 to $90 in the Price

question 24

Multiple Choice

Suppose a fall from $110 to $90 in the price of playing golf on a public golf course results in an increase in the quantity of golf balls demanded (at the current price of golf balls) from 9,950 units to 10,050 units. The cross elasticity of demand of playing golf with respect to the price of golf balls is

• A)-0.05.
• B)-0.1.
• C)0.01.
• D)0.08.
• E)0.05.

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