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A 10 percent increase in the price of tea causes 8 percent increase in the demand for coffee. the cross elasticity of demand for coffee with respect to the price of tea is a. -0…

A 10 percent increase in the price of tea causes 8 percent increase in the demand for coffee. the cross elasticity of demand for coffee with respect to the price of tea is a. -0…
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A 10 percent increase in the price of tea causes 8 percent increase in the demand for coffee. the cross elasticity of demand for coffee with respect to the price of tea is

a. -0.4.
b. 0.4.
c. -2.5.
d. 2.5.

User Ilia Kondrashov
by
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1 Answer

2 votes
it appears to be C hope this helps
User Samitha Chathuranga
by
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