When the price of air travel increases by 2 percent and the price of a train ride

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When the price of air travel increases by 2 percent and the price of a train ride remainsunchanged, the quantity of train rides demanded increases by 8

percent. Calculate the cross elasticity of demand of train rides with respect to air travel.

The cross elasticity of demand of train rides with respect to airtravel is _____

.>>> If your answer isnegative, include a minus sign. If your answer ispositive, do not include a plus sign.

Posted Date: Jun 23, 2024 01:01 AM

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When the price of air travel increases by 2 percent and the price of a train ride

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