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muminat
3 years ago
14

The price of peanut butter increased by 25% and the quantity of jelly demanded decreased by 50%. Using one decimal place and the

negative sign if necessary, the cross-price elasticity between peanut butter and jelly is _____.
Business
1 answer:
natulia [17]3 years ago
5 0

Answer:

-2

Explanation:

To find the cross price elasticity between to goods, we use this formula:

Cross Price Elasticity of Demand = % change in quantity demanded of good 1 / % change in the price of good 2

Now, we plug the amounts into the formula

Cross Price Elasticity of Demand = -50% / 25%

                                                      = -2

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(More than 1 answer)Which of the following collect and evaluate career outlook information: Internal Revenue Service
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Explanation:

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3 years ago
Reflect on a time when you recently traded or bought an item. Describe this exchange, using the following economic terms: volunt
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8 0
2 years ago
Assume that the Assembly Department allocates overhead based on machine hours, and the Finishing Department allocates overhead b
kap26 [50]

Answer:

$9.2 0

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3 years ago
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3 0
3 years ago
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