Cross elasticity of demand can be mathematicall... - JAMB Economics 1994 Question
Cross elasticity of demand can be mathematically expressed as the
A
\(\frac{\text{% change in quantity of commodity X}}{\text{% change in quantity of commodity Y}}\)
B
\(\frac{\text{% change in quantity demanded}}{\text{% change in price}}\)
C
\(\frac{\text{% change in quantity demanded of commodity X}}{\text{% change in price of commodity Y}}\)
D
\(\frac{\text{% change in quantity demanded}}{\text{% change in income}}\)
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Correct Option: C
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