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nydimaria [60]
2 years ago
12

If the price of Product E decreasing by 9 % causes its quantity demanded to increase by 14 % and the quantity demanded for Produ

ct F to increase by 12 % , what is the cross-price elasticity of demand?
Business
1 answer:
Alona [7]2 years ago
3 0

Answer:

1.33

Explanation:

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

Cross price elasticity = percentage change in quantity demanded of good F / percentage change in price of good E

12% / 9% = 1.33

I hope my answer helps you

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