Multiple Choice
Suppose the demand function is Q xd = 100 - 8Px + 6Py B M.If Px = $4, Py = $2, and M = $10, what is the cross-price elasticity of good x with respect to the price of good y?
A) 0.17.
B) 0.38.
C) 0.21.
D) 0.04.
Correct Answer:
Verified
Correct Answer:
Verified
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