The percent change in the quantity of one commodity demanded divided by the percent change in the price of another commodity is the
a. price elasticity of demand
b. price elasticity of supply
c. income elasticity of demand
d. income elasticity of supply
e. cross-price elasticity of demand
E
Economics
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Personal income can never be greater than national income
Indicate whether the statement is true or false
Economics
If the demand for a good increases, the
a. demand for labor producing the good will increase b. demand for labor producing the good will decrease c. marginal labor cost will increase d. marginal labor cost will decrease e. marginal physical product of labor will increase
Economics