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The cross-price elasticityr of demand refers to O a. the substitution of a good when price rises O b. the percentage change in demand for
The cross-price elasticityr of demand refers to O a. the substitution of a good when price rises O b. the percentage change in demand for a good that results from a 1 percent change in the price of another good 0 c. the change in quantity demanded that occurs when the price of a good falls 0 d. the change in price of a good that is required to increase price of another good Due to capacity constraints, the price elasticity of supply for most products is O a. the same in the long run and the short run O b. greater in the long run than in the short run O c. too uncertain to be estimated O d. greater in the short run than in the long run
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