Consider the following data for a hypothetical economy.
TABLE 4-5
-Refer to Table 4-5.The cross-price elasticity of demand for transit passes in terms of the price of gasoline is ________.A rise in the price of gasoline causes the demand curve for transit passes to shift to the ________.
A)5.0; right
B)0.33; right
C)0.33; left
D)0.2; right
E)0.2; left

Question

Consider the following data for a hypothetical economy.
  TABLE 4-5
-Refer to Table 4-5.The cross-price elasticity of demand for transit passes in terms of the price of gasoline is ________.A rise in the price of gasoline causes the demand curve for transit passes to shift to the ________.
A)5.0; right 
B)0.33; right 
C)0.33; left 
D)0.2; right 
E)0.2; left

Quizplus · Accepted Answer

The Answer of Consider the following data for a hypothetical economy.
  TABLE 4-5
-Refer to Table 4-5.The cross-price elasticity of demand for transit passes in terms of the price of gasoline is ________.A rise in the price of gasoline causes the demand curve for transit passes to shift to the ________.
A)5.0; right 
B)0.33; right 
C)0.33; left 
D)0.2; right 
E)0.2; left

Consider the Following Data for a Hypothetical Economy