Following an increase in the price of monthly public transport passes from £80 to £92, the weekly quantity demanded for private electric scooter rentals increases from 25,000 to 31,250 trips.
What is the cross elasticity of demand (XED) for electric scooter rentals with respect to the price of public transport passes?
1.671.671.67
0.600.600.60
−1.67-1.67−1.67
1.531.531.53
