Answer to Question #202161 in Microeconomics for Rohit Kumar

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= "\\frac{Percentage change in quantity of hamburger}{Percentage change in price of pizzaz}"


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

cross elasticity= 5


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