If the Price of Jelly Increases 10 Percent and the Amount

question 27

Multiple Choice

If the price of jelly increases 10 percent and the amount of peanut butter purchased decreases 20 percent,then the cross-price elasticity of these goods is:

• A) 0.5.
• B) 2.
• C) 0.5
• D) 2

---

Definitions:

Closed-Ended Questions

Questions framed to elicit a specific, often one-word answer, as opposed to open-ended questions that encourage detailed responses.

Open-Ended Questions

Questions formulated to elicit more detailed and expansive answers, encouraging discussion or explanation.

Personal Data

Information related to an identified or identifiable individual, including names, addresses, and online identifiers, which is subject to privacy laws and protection.

Marital Status

A legal or social acknowledgment of a person's current relationship status, commonly categorized as married, single, divorced, or widowed.