Multiple Choice
Cross-price elasticity of demand is calculated as:
A) the percentage change in quantity demanded of good one divided by the percentage change in the price of good two
B) the total percentage change in quantity demanded divided by the total percentage change in price
C) the percentage change in quantity demanded divided by the percentage change in income
D) none of the above answers is correct
Correct Answer:
Verified
Correct Answer:
Verified
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