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Business, 20.07.2020 01:01 Annaborden02

The price elasticity of demand for can is 1.2. The price elasticity of demand for trucks is 1.5.
The cross elasticity of demand for trucks with respect to the price of a car is 0.5.
A. If the price of a car rises by 10 percent, the percentage change in the quantity demanded of can is a decrease percent.
B. If the price of a car rises by 10 percent, the percentage change in the quantity demanded of trucks is an increase of percent.

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The price elasticity of demand for can is 1.2. The price elasticity of demand for trucks is 1.5.
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