If the Cross-Price Elasticity Between Ketchup and Hamburgers Is -1

Multiple Choice

If the cross-price elasticity between ketchup and hamburgers is -1.2, a 4% increase in the price of ketchup will lead to a 4.8%:

A) drop in quantity demanded of ketchup.
B) drop in quantity demanded of hamburgers.
C) increase in quantity demanded of ketchup.
D) increase in quantity demanded of hamburgers.