Multiple Choice
Cross-price elasticity of demand is defined as the:
A) percentage change in quantity demanded divided by percentage change in the price of the same good.
B) percentage change in demand divided by percentage change in the price of another good.
C) change in the price of another good divided by the change in quantity demanded.
D) percentage change in the price of another good divided by the percentage change in quantity demanded.
Correct Answer:
Verified
Correct Answer:
Verified
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