If Price of Product a Increases by 10%,and the Quantity

question 74

Multiple Choice

If price of product A increases by 10%,and the quantity demanded for product B drops by 50%,then the cross price elasticity of the quantity of product A with respect to price of product B is

• A)5.
• B)-5.
• C)0.2.
• D)-0.2.

---

Definitions:

Assembly Lines

A production method that breaks down a complex item into a series of smaller tasks, each performed by a specialized worker or group of workers sequentially.

Defective Bottles

Refers to bottles that fail to meet the quality standards due to manufacturing errors or defects.

Population Means

The average values of a characteristic within an entire population.

Confidence Interval

A set of numbers from sample-derived statistics, believed to hold the value of an unnoticed population parameter.