ECONOMICS
ELASTICITY OF DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If a price hike from £15 to £20 for DVD disks causes sales of DVD players to fall from 100 to 50 units, the coefficient of cross-elasticity of demand between these goods is roughly:
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‑1/10.
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‑10.
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-7/3.
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-3/7.
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Explanation:
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