Multiple Choice
How is cross-price elasticity of demand calculated
A) the percentage change in quantity demanded of good 1 divided by the percentage change in the price of good 2
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) the percentage change in the price of good 1 divided by the percentage change in the price of good 2
Correct Answer:
Verified
Correct Answer:
Verified
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