Multiple Choice
The cross elasticity of demand between any two goods is defined as the
A) percentage change in the quantity demanded of one good divided by the percentage change in the price of the other good.
B) change in the price elasticity of demand for one good divided by the change in the price elasticity of demand for the other good.
C) percentage change in the quantity of a good demanded divided by the percentage change in its price.
D) percentage change in the quantity of a good demanded divided by the percentage change in income.
E) percentage change in the price of one good divided by the percentage change in the price of the other good.
Correct Answer:
Verified
Correct Answer:
Verified
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