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Cross elasticity of demand can be mathematically expressed as the


Question

Cross elasticity of demand can be mathematically expressed as the

Options

A)
\(\frac{\text{% change in quantity of commodity X}}{\text{% change in quantity of commodity Y}}\)
B)
\(\frac{\text{% change in quantity demanded}}{\text{% change in price}}\)
C)
\(\frac{\text{% change in quantity demanded of commodity X}}{\text{% change in price of commodity Y}}\)
D)
\(\frac{\text{% change in quantity demanded}}{\text{% change in income}}\)

The correct answer is C.


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