Multiple Choice
The cross elasticity of demand is
A) the percentage change in the demand of one good divided by the percentage change in price of another good.
B) the change in the price of one good divided by the change of quantity demanded of another good.
C) the percentage change in the quantity demanded of one good divided by the percentage change in the quantity demanded of another good.
D) the percentage change in the price of one good divided by the percentage change in the price of another good.
Correct Answer:
Verified
Correct Answer:
Verified
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