Multiple Choice
The cross-price elasticity of demand for books and magazines is −2.0.If the price of magazines decreases by 10 percent,the quantity demanded of books will:
A) fall by 2.0 percent.
B) rise by 2.0 percent.
C) fall by 20 percent.
D) rise by 20 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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