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Use the information below to answer questions. When commodity X sold for N25 per unit, ...

Use the information below to answer questions.
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units.
Determined the cross elasticity of demand?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A 1.7
  • B 0.6
  • C -0.6
  • D -1.7
Correct Answer: Option A
Explanation:

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