If the Price of Jelly Goes Up by 10 Percent,we

question 5

Multiple Choice

If the price of jelly goes up by 10 percent,we observe a decrease in the quantity demanded of peanut butter of 20 percent.The cross-price elasticity of these goods is:

• A)0.5.
• B)2.
• C)-0.5.
• D)-2.

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