If quantity demanded for product A increased from 50 to 60 units due to change in price of its related good B from P5 to P8, identify the type of demand elasticity, its value and type of related...

If quantity demanded for product A increased from 50 to 60 units due to change in price of its related good B from P5 to P8, identify the type of demand elasticity, its value and type of related products.Single choice.

a. cross elasticity value of 0.33 and products A & B are substitute goods

b. price elasticity value of 0.33 and products A & B are complementary goods

c. cross elasticity of 0.33 and products A & B are complementary goods

d. cross elasticity value of 3.0 and products A & B are substitute goods

Jun 09, 2022

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If quantity demanded for product A increased from 50 to 60 units due to change in price of its related good B from P5 to P8, identify the type of demand elasticity, its value and type of related...

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