If X and Y are two goods, then the cross elasticity of demand for X…

Economics JAMB 1984

If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?

  • percentage change in the quantity of X divded by the percentage change in the price of Y checkmark
  • percentage change in the quantity of X divided by change in the price of Y
  • change in the quantity of X divided by change in the price of Y
  • percentage change in the quantity of X divided by the price Y
  • percentage change in the price of X divided by percentage change in the quantity of Y

The correct answer is: A

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