A cross price elasticity of demand for product with respect to the price of product of 0.3 means that
A) an increase in the price of A by 10 percent gives rise to an increase in quantity demanded of B by 3 percent.
B) an increase in the price of B by 10 percent gives rise to an increase in the quantity demanded of A by 3 percent.
C) an increase in the price of B by 10 percent gives rise to a decrease in the quantity demanded of A by 3 percent.
D) an increase in the price of A by 10 percent gives rise to a decrease in the quantity demanded of B by 3 percent.
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