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Economics
JAMB 2025

 

If 20% rise in the price of Whisky leads to a 30% increase in quantity demanded of Schnapps, the cross elasticity of demand is

 

 

  • A. 3.0
  • B. 1.5
  • C. 2.3
  • D. 2.5
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Correct Answer: Option B
Explanation

Cross elasticity of Demand = %A in Quantity Demanded + % A in price
= 30/20
= 1.5

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