The formula for calculating the cross price elasticity of demand is:
A) the change in the quantity demanded of one good divided by the change in the price of another good.
B) the percentage change in demand of one good divided by the percentage change in the price of another good.
C) the percentage change in the quantity supplied of one good divided by the percentage change in the price of another good.
D) the percentage change in the price of one good divided by the percentage change in the quantity demanded of another good.
Correct Answer:
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