Multiple Choice
Suppose the price of soccer shoes decreases by 7 percent and as a result, there is a 12 percent rise in the quantity of shin guards demanded.The value of the cross-price elasticity of demand is
A) -1.71
B) -0.58.
C) 1.71.
D) 0.58.
Correct Answer:
Verified
Correct Answer:
Verified
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