Economics 9708 · AS & A Level · Price elasticity of demand

Price elasticity of demand — practice question

The price of good X goes up by 20%. Consequently, the demand for substitute good Y increases by 10%. What is the cross-elasticity of demand for good Y in relation to good X?

  • A+2
  • B+0.5
  • C–0.5
  • D–2

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