Q. If quantity of good X demanded increases from 2300 to 2700 when price of good Y increases from Rs. 45 to Rs. 55, find Arc Cross elasticity of demand?
A) 1.25
B) 4
C) 0.8
D) 0.25
✔ Correct Answer: 0.8
Exam Insight
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A) 1.25
B) 4
C) 0.8
D) 0.25
✔ Correct Answer: 0.8
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