When the Crossprice Elasticity PX = 1.5

Multiple Choice

When the crossprice elasticity PX = 1.5:

A) the quantity demanded rises by 1% with a 1.5% increase in the price of X.
B) demand rises by 1% with a 1.5% increase in the price of X.
C) demand rises by 1.5% with a 1% increase in the price of X.
D) the quantity demanded rises by 1.5% with a 1% increase in the price of X.