Multiple Choice
When the price of tacos went from $2 to $3 dollars each, the quantity demanded of burritos changed from 100 to 120 a day. The cross-price elasticity of demand for burritos calculated using the initial value method is
A) 1.33.
B) 0.75.
C) 0.4.
D) -0.75.
Correct Answer:
Verified
Correct Answer:
Verified
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