The percentage change in the demand for film divided by the percentage change in the price of cameras indicates
a. the cross-price elasticity of demand between film and cameras
b. the cross-price elasticity of demand for photographs
c. the price elasticity of demand for film
d. the price elasticity of demand for cameras
e. nothing because the two goods fall into the broadly defined category of photographic equipment
Question 2
Cross-price elasticity of demand measures
a. elasticity of demand at the intersection of the supply and demand curves
b. elasticity of supply at the intersection of supply and demand curves
c. the relative elasticity of supply and demand at the intersection of the two curves
d. the relationship between the demand for one good and the price of another
e. the relationship between the demand for one good and the supply of another
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