Multiple Choice
If the quantity of Big Macs demanded falls from 2.0 million to 1.6 million as the price of Whoppers falls from $1.40 to $.80, the cross-price elasticity of demand for Big Macs is:
A) −2.5.
B) −0.4.
C) 2.5
D) 0.4.
Correct Answer:
Verified
Correct Answer:
Verified
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