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What is the correct answer?

4

Cross-elasticity of demand is measured as:

A. Percentage change in the quantity of a commodity demanded divided by the percentage change in the price of that commodity

B. Percentage change in the quantity of commodity X divided by percentage change in the price of commodity Y

C. Percentage change in the quantity demanded of commodity X

D. Percentage change in the quantity demanded of commodity X divided by percentage change in the quantity demanded of commodity Y

Correct Answer :

B. Percentage change in the quantity of commodity X divided by percentage change in the price of commodity Y


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