Suppose that the quantity of apples sold increases by 30 percent after the price of pears increases by 15 percent. What is the coefficient of cross elasticity of demand?

A. 3.0.
B. 1.5.
C. 0.2.
D. 2.0.


Answer: D

Economics

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Economics

Refer to the information provided in Figure 14.1 below to answer the question(s) that follow. Figure 14.1Refer to Figure 14.1. Firms form a cartel that maximizes profits. The profits are

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Economics