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If the Price of Pork Chops Falls from $8 to $6,and

Question 32

Multiple Choice

If the price of pork chops falls from $8 to $6,and this leads to an increase in demand for apple sauce from 100 to 140 jars,what is the cross-price elasticity of apple sauce and pork chops at a pork chop price of $6?


A) −1.17
B) 2.71
C) 0.42
D) −0.86

Correct Answer:

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