Use the figure below to calculate the cross-price elasticity of demand for good X when the price of good Y increases from $12 to $14:

A) 0.645
B) 0.42
C) 0.20
D) 2.00
E) 15.38

Question

Use the figure below to calculate the cross-price elasticity of demand for good X when the price of good Y increases from $12 to $14:

A) 0.645 
B) 0.42 
C) 0.20 
D) 2.00 
E) 15.38

Quizplus · Accepted Answer

The Answer of Use the figure below to calculate the cross-price elasticity of demand for good X when the price of good Y increases from $12 to $14:

A) 0.645 
B) 0.42 
C) 0.20 
D) 2.00 
E) 15.38

Use the Figure Below to Calculate the Cross-Price Elasticity of Demand