If the Cross-Price Elasticity Between Ketchup and Hamburgers Is -2

Multiple Choice

If the cross-price elasticity between ketchup and hamburgers is -2.5, a 2% increase in the price of ketchup will lead to a

A) 5% drop in quantity demanded of ketchup.
B) 5% 5% drop in quantity demanded of hamburgers.
C) 5% increase in quantity demanded of ketchup.
D) 5% increase in demanded of hamburgers.