-The Increase in the Demand for Widgets, Shown in the Figure

question 298

Multiple Choice

-The increase in the demand for widgets, shown in the figure above, is the result of an increase in the price of McBoover devices from $9 to $11. Therefore, the cross-price elasticity for these two products is

• A) -2.0.
• B) -0.5.
• C) 0.5.
• D) 2.0.

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