If prices of petrol rises from `40. To `48 per lt., the demand for cars falls from 60 per month to 45 per month, the cross elasticity of petrol and Car is

Related MCQs

• If prices of Eggs rises from `25 per dozen to `30 per dozen, the demand for vegetable burger increases from 30 per day to 40 per day, then the cross elasticity of eggs and vegetable burger is
• Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of Coffee rises to `400 per kg. the demand for Tea goes to 6 Kg. and that of Coffee falls to 1Kg. The elasticity of substitution between Tea and Coffee is
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• If the price of coffee falls by 8% and the demand for Tea declines by 2%. The corss price elasticity of demand for Tea is
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• If the cross price elasticity of demand for two product is negative, then the two products are ……………….
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