Employees expect their managers to practive management by, ___.
1 answer:
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Answer:
1.3
Explanation:
Given:
If Good C increases in price by 30% a pound.
This causes the quantity demanded for Good D to increase by 40%.
Question asked:
What is the cross-price elasticity of the two goods ?
Solution:
We can find the cross-price elasticity of the two goods by this formula:
When Good C increases in price by 30% which causes the quantity demanded for Good D to increase by 40%, then the cross-price elasticity of the is Good C and Good D is 1.3.