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Elasticity

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Question 50

The weekly quantity demanded of premium virtual reality headsets (Brand X) falls from 12,000 12,000\,12,000 to 9,000 9,000\,9,000 units when the price of a compatible motion-tracking sensor (Brand Y) increases by 20%.

In relation to the price of Brand Y sensors, what is the cross elasticity of demand for Brand X headsets?

+1.25+1.25+1.25

−1.25-1.25−1.25

−0.80-0.80−0.80

+0.80+0.80+0.80

Elasticity Questions

  1. A Level
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  3. /Elasticity