If the Cross-Price Elasticity of Demand Between Good a and Good

question 52

Multiple Choice

If the cross-price elasticity of demand between Good A and Good B is 2 and the percentage change in price of Good A is 5 percent,what is the percentage change in quantity demanded of Good B?

• A) 3 percent
• B) 10 percent
• C) -1.25 percent
• D) 1.50 percent
• E) -3 percent

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