When the price of hamburger went from $3 to $4 a pound, the quantity demanded of buns changed from 30 to 25 packages a day. The cross-price elasticity of demand for buns (using the initial value formula) is:
A. 1.4.
B. 0.5.
C. -0.5.
D. -1.4.
Answer: C
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Which of the following is TRUE?
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A) no; no B) no; a large C) no; a small D) a large; a large
Which two pieces of legislation were passed in 1914?
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