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nguyenduong67 nguyenduong67
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6 years ago
When the price of pens went from $1 to $1.50, the quantity demanded of pencils changed from 50 to 75 a day. The cross-price elasticity of demand for pens (using the initial value formula) is
A) 0.8.
B) 0.4.
C) 0.2.
D) Cannot be determined from the information provided.
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Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
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Quinn1981Quinn1981
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