If the quantity demanded of beef increases by 5% when the price of chi – McqOptions

MCQOPTIONS

1.	If the quantity demanded of beef increases by 5% when the price of chicken increase by 20% the cross-price elasticity of demand between beef and chicken is ?
A.	-4
B.	0.25
C.	4
D.	-0.25
Answer» C. 4

Discussion

No Comment Found

Related MCQs

Which of the following will NOT cause a shift in the demand curve for compact discs ?
Which of the following would increase aggregate demand ?
Which of the following would decease aggregate demand ?
Which of the following is consistent with the law of supply ?
Which best describes a supply curve ?
Which best describes a demand curve ?
When the market operates without interference, price increases will distribute what is available to those who are willing and able to pay the most. This process is known as ?
When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?
When excess demand occurs in an unregulated market, there is a tendency for ?
What effect is working when the price of a good falls and consumers tend to buy it instead of other goods ?