Q. If quantity of good X demanded increases from 4000 units to 5000 units when price of good Y increases from Rs 75 to Rs 90, find Arc Cross elasticity of demand?
A) 1.66
B) 0.55
C) 1.22
D) 0.25
✔ Correct Answer: 1.22
Exam Insight
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A) 1.66
B) 0.55
C) 1.22
D) 0.25
✔ Correct Answer: 1.22
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