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Question
The cross price elasticity of demand is defined as
A) the percentage change in the supply for one good (a shift in the supply curve) divided by the percentage change in price of a related good.
B) the percentage change in demand for two different commodities.
C) the percentage change in the demand for one good (a shift in the demand curve) divided by the percentage change in price of a related good.
D) the percentage change in price for two different commodities.
Answer
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