Question 7
[Maximum number: 1]
What can be measured by cross-elasticity of demand?
A
a change in real income as a result of a change in the price of consumer goods
B
a change in the demand for a good in response to a change in the price of a complement
C
a change in the price of a good in response to a change in the demand for a substitute
D
a change in the price of a good when the demand for it changes