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When commodity X sold for N25 per unit,50 units of commodity Y were purchased. With...

When commodity X sold for N25 per unit,50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit,the demand for commodity Y fell to 20 units. Determine the cross elasticity of demand
A. 1.7 B. 0.6. C. _0.6. D. _1.7?

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Answers (1)

Precious
2 weeks ago
it simply means that commodity x increased by 25 per unit, and commodity y decreased by 30 per unit.
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