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October 25, 2014

October 25, 2014

Posted by **Econo-missed** on Saturday, November 1, 2008 at 4:21pm.

(b) What would be the cross price elasticity of demand between automobiles and gasoline if sales of automobiles declined from 8 to 6 with an increase in the gasoline price from $ 1 to $ 1.20 per gallon?

- Managerial Economics -
**economyst**, Monday, November 3, 2008 at 10:39amTake a shot, what do you think.

hint: increase the price of gas by 1%, what happens to the quantity of autos (the percentage change)

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