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 ? | MCQ Hive

Economics Mcqs

Q 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 A. -4
B B. 0.25
C C. 4
D D. -0.25

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