The cross-price elasticity of demand between Coca-Cola and Pepsi-Cola is calculated by dividing
A) the percentage change in quantity demanded of Coca-Cola by the percentage change in the quantity demanded of Pepsi-Cola.
B) the percentage change in the price of Pepsi-Cola by the percentage change in quantity demanded of Coca-Cola.
C) the percentage change in the price of Coca-Cola by the percentage change in the price of Pepsi-Cola.
D) the percentage change in the quantity demanded of Coca-Cola by the percentage change in the price of Pepsi-Cola.
Correct Answer:
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