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Author Question: The cross-price elasticity of demand measures the A) percentage change in the quantity demanded ... (Read 81 times)

rl

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on: Jun 29, 2018
The cross-price elasticity of demand measures the
 
  A) percentage change in the quantity demanded of one good in one location divided by the price of the same good in another location.
  B) absolute change in the quantity demanded of one good divided by the absolute change in the price of another good.
  C) percentage change in the quantity demanded of one good divided by the percentage change in the price of another good.
  D) percentage change in the price of one good divided by the percentage change in the quantity demanded of another good.

Question 2

What is voluntary exchange?
 
  What will be an ideal response?


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xMRAZ

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

Voluntary exchange is a situation that occurs in markets when both the buyer and seller of a product are made better off by the transaction.


rl

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

ebonylittles

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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