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21-12-2021
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Suppose the price of movie tickets decreases by 4%, causing the quantity demanded of popcorn to increase by 10%. What would the cross-price elasticity for movie tickets and popcorn be in this example

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ewomazinoade ewomazinoade

30-12-2021

The cross-price elasticity for movie tickets and popcorn is 2.5.

Cross price elasticity measures how quantity demanded of good A changes as a result of a change in the price of good B.

Cross price elasticity -= percentage change in the quantity demanded of good A / percentage change in the price of good B

Cross price elasticity = percentage change in the quantity demanded of popcorn / percentage change in the price of movie tickets

10% / 4% = 2.5

To learn more about cross price elasticity, please check: https://brainly.com/question/13538185

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