Multiple Choice
Suppose the price of video games falls from $40 to $20 and as a result the quantity demanded of footballs falls from 40,000 to 10,000 per year.The value of the cross-price elasticity of demand is
A) 1.80.
B) 1.00.
C) 0.83.
D) 0.56.
Correct Answer:
Verified
Correct Answer:
Verified
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