Multiple Choice
Good X and Good Y are related goods. When the price of Good X rises by 20 percent, the quantity demanded for Good Y falls by 40 percent. What is the cross-price elasticity?
A) 2
B) 4
C) -0.5
D) -2
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q134: Why is the supply curve for oil
Q135: If the price of a good increases
Q136: Elasticity of demand is the percent change
Q137: If the supply of a good is
Q138: The demand for Michelin tires is _
Q140: Government gun buyback programs designed to take
Q141: Which of the following mostly likely has
Q142: In 1808, when slavery in the United
Q143: Extensive flooding in the Midwest decreases the
Q144: Nobel prize-winning economist Gary Becker suggested prohibited