Multiple Choice
If the cross-price elasticity between Good A and Good B is -1.5 and the percentage change in quantity demanded of Good B is 15 percent,what is the percentage change in the price of Good A?
A) -10 percent
B) -0.10 percent
C) -11.50 percent
D) -1 percent
E) 11.50 percent
Correct Answer:
Verified
Correct Answer:
Verified
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