Multiple Choice
If the cross-price elasticity of demand between shrimp and oysters is 4, then a 2% decrease in the price of shrimp will result in a(n) ________ in the quantity of oysters demanded.
A) 0.5% decrease
B) 8% decrease
C) 4% decrease
D) 2% increase
Correct Answer:
Verified
Correct Answer:
Verified
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