Multiple Choice
A rise in the price of butter from $3 to $5 per kilogram causes the quantity demanded of margarine to increase from 100 000 to 200 000 kilograms.The numerical value of the cross-price elasticity between these two goods is therefore:
A) -0.75
B) 0.75
C) 1.33
D) 1.50
E) -1.33
Correct Answer:
Verified
Correct Answer:
Verified
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