If the Percentage Change in Quantity Demanded of Good B

question 126

Multiple Choice

If the percentage change in quantity demanded of Good B is 2% and the percentage change in the price of Good A is -10%, what is the cross-price elasticity of demand?

• A) 0.20
• B) -5
• C) 1
• D) 5
• E) -0.20

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Definitions:

Brain

The complex central organ of the nervous system, enclosed within the skull, functioning as the primary receiver, organizer, and distributor of information for the body.

Myelin

A fatty substance that surrounds and insulates the axons of many neurons, enhancing the speed and efficiency of electrical signal transmission in the nervous system.

Insulates

Refers to the process or material used to prevent the transfer of heat, electricity, or sound from one area to another.

Neural Message

The transmission of information through neurons, involving electrical impulses and chemical signals.