Cross elasticity of demand can be mathematically expressed as the
A.
\(\frac{\text{% change in quantity of commodity X}}{\text{% change in quantity of commodity Y}}\)
B.
\(\frac{\text{% change in quantity demanded}}{\text{% change in price}}\)
C.
\(\frac{\text{% change in quantity demanded of commodity X}}{\text{% change in price of commodity Y}}\)
D.
\(\frac{\text{% change in quantity demanded}}{\text{% change in income}}\)
Correct Answer: Option C
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