Question
A 10 percent increase in the price of pizza causes a 5 percent decrease in the quantity demanded of orange soda pop. This means that
A 10 percent increase in the price of pizza causes a 5 percent decrease in the quantity demanded of orange soda pop. This means that
a)pizza and orange soda pop are substitutes
b)pizza and orange soda pop are complements
c)the cross-price elasticity of demand is elastic
d)the cross-price elasticity of demand is equal to 2
e)the cross-price elasticity of demand is equal to -2
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Business Its Legal Ethical and Global Environment
Authors: Marianne M. Jennings
11th edition
1337103578, 978-1337514392, 133751439X, 978-0357690130, 978-1337103572
