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Cross-price elasticity of demand for textbooks

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The cross-price elasticity of demand for textbooks and copies of old exams is -3.5. If the price of copies of old exams increase by 10%, the quantity demanded of textbooks will:

A. Fall by 3.5%

B. Rise by 3.5%

C. Fall by 35%

D. Rise by 35%

Explain your answer

Reference no: EM131558020

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