Multiple Choice
Suppose Tinsel Town Videos lowers the price of its movie club membership by 10 percent and as a result, CineArts Videos experienced a 16 percent decline in its movie club membership.What is the value of the cross-price elasticity between the two movie club memberships?
A) -1.6
B) -0.625
C) 0.625
D) 1.6
Correct Answer:
Verified
Correct Answer:
Verified
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