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The cross elasticity of demand between petrol and car is _________
  • a)
    Infinite
  • b)
    Positive
  • c)
    Zero
  • d)
    Negative
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
The cross elasticity of demand between petrol and car is _________a)I...
In economics, the cross elasticity of demand measures the responsiveness of the quantity demanded for a good to change the price of another good. In cross elasticity, the demand between petrol and car is negative.
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The cross elasticity of demand between petrol and car is _________a)Infiniteb)Positivec)Zerod)NegativeCorrect answer is option 'D'. Can you explain this answer?
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