Suppose the demand curve for a product is: Q = 90 – 6P + 4Ps, where P is the price of the product and Ps is the price of a substitute good. If Ps = $6 and P = $10, the cross-price elasticity of demand is %3D Select one: OA. 0.61 O B. 0.44 C. 0.84 O D. 0.32

Suppose the demand curve for a product is: Q = 90 – 6P + 4Ps, where P is the price of the product and Ps is the price of a substitute good. If Ps = $6 and P = $10, the cross-price elasticity of demand is %3D Select one: OA. 0.61 O B. 0.44 C. 0.84 O D. 0.32

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 18SQ

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Question

Suppose the demand curve for a product is: Q = 90 – 6P + 4Ps, where P is the price of the product and
Ps is the price of a substitute good. If Ps = $6 and P = $10, the cross-price elasticity of demand is
Select one:
O A.
0.61
О в.
0.44
С.
0.84
OD.
0.32

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