12. If the price of pork chops falls from $8 to $6, and this leads to an increase in demand for apple sauce from 100 to 140 jars, what is the cross-price elasticity of apple sauce and pork chops at a pork chop price of $6? А. -1.17 В. 2.71 C. 0.42 D. -0.86

12. If the price of pork chops falls from $8 to $6, and this leads to an increase in demand for apple sauce from 100 to 140 jars, what is the cross-price elasticity of apple sauce and pork chops at a pork chop price of $6? А. -1.17 В. 2.71 C. 0.42 D. -0.86

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 18P: Using the midpoint formula for calculating the elasticity of supply, if the price of a good rose...

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Question

How we get - 0.86?

12. If the price of pork chops falls from $8 to $6, and this leads to an increase in demand for
apple sauce from 100 to 140 jars, what is the cross-price elasticity of apple sauce and pork
chops at a pork chop price of $6?
А. -1.17
В. 2.71
C. 0.42
D. -0.86

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