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25-04-2024
Business

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The cross-price elasticity of demand between goods X and Y is -3.5. If the price of X decreases by 7 percent, the quantity demanded of Y will:
A. decrease by 24.5 percent.
C. increase by 24.5 percent.
B. decrease by 2.45 percent.
D. increase by 2.45 percent.

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