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8) The price elasticity of demand equals magnitude of the in the divided by the _in the A) percentage change; quantity demanded; percentage change; quantity supplied B) percentage change; quantity demanded; percentage change; price C) change; price; change; quantity demanded D) change; quantity demanded; change; price E) percentage change; price; percentage change; quantity demanded
if the percentage change in the quantity demanded of good B is 2% and the percentage change in the price of good A is -10%, what is the cross-price elasticity of demand?
_____ is the measure of the percent change in the quantity of a good demanded divided by the percent change in the price of that good.
1. Law of demand
2. Quantifiable output
3. Inelastic demand
4. Price elasticity of demand
