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Cross elasticity of demand between petrol and car is __________. The c

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| Cross elasticity of demand between petrol and car is __________.

A. Infinite

B. Positive

C. Zero

D. Negative

Right Answer is: D

SOLUTION

  • The cross-price elasticity between car and petrol will be negative as they are complementary goods.
  • The cross-price elasticity of demand measures the response of the quantity demanded a good to a change in the price of another good.
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    1. Cross elasticity of demand between petrol and car is __________.
      The c

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