Multiple Choice
Consider the following data for a hypothetical economy.
-Refer to Table 4- 5. The cross- price elasticity of demand for transit passes in terms of the price of gasoline is . A rise in the price of gasoline causes the demand curve for transit passes to shift to the _.
A) 0.2; right
B) 0.2; left
C) 5.0; right
D) 0.33; left
E) 0.33; right
Correct Answer:

Verified
Correct Answer:
Verified
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