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Use the information below to answer questions.When commodity X sold for N25 per ...


Question

Use the information below to answer questions.

When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units.Determined the cross elasticity of demand?

Options

A)
1.7
B)
0.6
C)
-0.6
D)
-1.7

The correct answer is A.


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