The cross-price elasticity between two products is estimated to be 2. If the price of the first product is increased by 8%, demand for the second product willblank_______.

A increase by 8%

B decrease by 4%

C increase by 4%

D increase by 16%

My answer to this question is b) descrease by 4%. Can you explain if it is right or wrong. As they are comparing price for one product with demand for another are they comparing two complementary products. This id a tough one for me. Which formula should be used to get the answer.