Multiple Choice
Consider the following data for a hypothetical economy.
TABLE 4-5
-Refer to Table 4-5.The cross-price elasticity of demand for transit passes in terms of the price of gasoline is ________.A rise in the price of gasoline causes the demand curve for transit passes to shift to the ________.
A) 5.0; right
B) 0.33; right
C) 0.33; left
D) 0.2; right
E) 0.2; left
Correct Answer:

Verified
Correct Answer:
Verified
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