Multiple Choice
Suppose that the cross-price elasticity of demand for movie popcorn with respect to movie tickets is -0.75. If the price of movie tickets rises by 4%, the quantity demanded of movie popcorn will:
A) fall by 18.75%.
B) fall by 5.33%.
C) rise by 3%.
D) fall by 3%.
Correct Answer:
Verified
Correct Answer:
Verified
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