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A 3 Percent Rise in the Price of Orange Juice

Question 141

Multiple Choice

A 3 percent rise in the price of orange juice decreases the quantity of orange juice demanded by 9 percent and increases the quantity of apple juice demanded by 15 percent.The price elasticity of demand for orange juice is ________.The cross elasticity of demand for apple juice with respect to the price of orange juice is ________.


A) -3;5
B) 3;5
C) 0.33;0.2
D) -0.33;0.2
E) 0.33;-5

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