The cross-price elasticity of demand for hevs and gasoline is 2.57.
<h3>What is
cross-price elasticity of demand?</h3>
A cross-price elasticity of demand is an economic tool that measure the %change in quantity demand for a good after a change in the price of another
The demand is calculated by %change in the quantity demanded of one good over %change in the price of the other good.
Hence, the % of quanitty demanded is 36% and the % of change in the price is 14%
Cross-price elasticity of demand = 36% / 14%
Cross-price elasticity of demand = 2.57142857143
Cross-price elasticity of demand = 2.57
In conclusion, the cross-price elasticity of demand for hevs and gasoline is 2.57.
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Explanation:
Is there any relationship between the 50 States of the union when comparing the age and gender of individuals involved in fatal alcohol related traffic accidents?
your answer is third Hope it's helpful to you