Multiple Choice
Which of the following expressions represents a cross-price elasticity of demand?
A) percentage change in quantity demanded of apples divided by percentage change in quantity supplied of apples
B) percentage change in quantity demanded of apples divided by percentage change in price of pears
C) percentage change in price of apples divided by percentage change in quantity demanded of apples
D) percentage change in quantity demanded of apples divided by percentage change in income
Correct Answer:
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