if-the-price-of-coffee-increases-from-3-to-4-and-the-quantity-demanded-of-tea-in

Question

If the price of coffee increases from $$3 to 4 $$and the quantity demanded of tea increases from 100 units to 120 units, what is the cross-price elasticity of demand using the midpoint method?

Accepted Answer

0.67

Answer

-0.67

Answer

1.5

Answer

-1.5

If the price of coffee increases from \$3 to \$4 and the quantity demanded of tea increases from 100 units to 120 units, what is the cross-price elasticity of demand using the midpoint method?