When the Price of a Pizza Is $10,the Quantity of Soda

question 280

Multiple Choice

When the price of a pizza is $10,the quantity of soda demanded is 300 drinks.When the price of a pizza is $15,the quantity soda demanded is 100 drinks.The cross elasticity of demand is equal to

• A) -0.25.
• B) -0.40.
• C) -2.50.
• D) -25.00.
• E) 4.00.

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Definitions:

Discount

A reduction from the usual cost of something, typically for promotional reasons or to incentivize purchase.

Article

A written composition on a particular topic, often published in a newspaper or magazine.

Discount Period

The window of time in which a payment can be made at a reduced rate.

Welfare

Governmental support aimed at ensuring the basic physical and material well-being of individuals, often including provisions for health care, education, and housing.