Question #202161

A 10percent decreases in the price of dominos pizza decreases the demand for hamburger by 50 percentfind out the cross elasticy of demand between dominos pizza and hamburger


1
Expert's answer
2021-06-03T12:56:16-0400

Solution


Cross Elasticity= PercentagechangeinquantityofhamburgerPercentagechangeinpriceofpizzaz\frac{Percentage change in quantity of hamburger}{Percentage change in price of pizzaz}


cross elasticity=5010=+5\frac{50}{10} = +5

cross elasticity= 5


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