Multiple Choice
The market demand for wheat is Q = 100 - 2p + 1pb,where pb is the price of barley.If the price of wheat is $2 and the price of barley is $4,the cross-price elasticity of demand
A) equals (4/100) .
B) equals (-2/100) .
C) equals (-4/25) .
D) cannot be calculated without more information.
Correct Answer:
Verified
Correct Answer:
Verified
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