Multiple Choice
Suppose computer prices at an office supply store fall from $1,000 to $900 and as a result the quantity demanded of typewriters decreases from 40 to 20 per month.The cross-price elasticity of demand is closest to
A) 0.16.
B) 0.2.
C) 5.0.
D) 6.3.
Correct Answer:
Verified
Correct Answer:
Verified
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