When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pens using the initial value formula)is:
A)0.8.
B)0.4.
C)0.2.
D)Cannot be determined from the information provided.

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The Answer of When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pens using the initial value formula)is:
A)0.8.
B)0.4.
C)0.2.
D)Cannot be determined from the information provided.

When the Price of Pens Went from $1 to $1