If price of product A increases by 10%, and the quantity demanded for product B drops by 50%, then the cross price elasticity of the quantity of product A with respect to price of product B is
A) 5.
B) -5.
C) 0.2.
D) -0.2.
B
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The unemployment rate is computed by dividing the _____ by the _____.
Fill in the blank(s) with the appropriate word(s).
Susan's price elasticity of restaurant meals is 2.27. If the price of a restaurant meal falls by 2 percent, the quantity of restaurant meals Susan demands will:
A. increase by 2.27 percent. B. increase by 22.7 percent. C. fall by 2.27 percent. D. increase by 4.54 percent.
The demand for money curve slopes downward because a rise in the nominal interest rate ________ the opportunity cost of holding money and therefore ________ the quantity of money demanded
A) decreases; decreases B) increases; decreases C) decreases; increases D) increases; does not change E) increases; increases