If the quantity demanded of edible oil increases by 5% when the price of ghee increases by 20%, the cross-price elasticity of demand between edible oil and ghee is
A. -0.25
B. 0.25
C. – 4
D. 4
Answer:B
If the quantity demanded of edible oil increases by 5% when the price of ghee increases by 20%, the cross-price elasticity of demand between edible oil and ghee is
A. -0.25 B. 0.25 C. – 4 D. 4