-Based on data in the table above,use the midpoint method to determine the cross elasticity of demand for ice cream and cake.
A) The cross elasticity is -0.75.
B) The cross elasticity is -1.75.
C) The cross elasticity is -0.83.
D) The cross elasticity is -4.0.
E) The cross elasticity is -1.33.

Question

-Based on data in the table above,use the midpoint method to determine the cross elasticity of demand for ice cream and cake.
A) The cross elasticity is -0.75. 
B) The cross elasticity is -1.75. 
C) The cross elasticity is -0.83. 
D) The cross elasticity is -4.0. 
E) The cross elasticity is -1.33.

Quizplus · Accepted Answer

The Answer of 
-Based on data in the table above,use the midpoint method to determine the cross elasticity of demand for ice cream and cake.
A) The cross elasticity is -0.75. 
B) The cross elasticity is -1.75. 
C) The cross elasticity is -0.83. 
D) The cross elasticity is -4.0. 
E) The cross elasticity is -1.33.

-Based on Data in the Table Above,use the Midpoint Method