Multiple Choice
Cross elasticity is defined as the _______________.
A) percentage change in price of a one good (A) ,divided by the percentage change in the quantity demanded of a related good (B)
B) percentage change in quantity demanded for one good (A) ,divided by the percentage change in the price of a related good (B)
C) percentage change in quantity demanded for one good (A) ,divided by the percentage change in the price of that good (A)
D) change in quantity demanded for one good (A) ,divided by the change in the price of a related good (B)
Correct Answer:
Verified
Correct Answer:
Verified
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