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Homework answers / question archive / Suppose the original quantity demanded for good R is 20 units and the new quantity demanded for R is 10 units

Suppose the original quantity demanded for good R is 20 units and the new quantity demanded for R is 10 units

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Suppose the original quantity demanded for good R is 20 units and the new quantity demanded for R is 10 units. For good T, the original price is $8 and the new price is $6. What is the cross-price elasticity of demand between R and T (using the arc or midpoint formula)?

A. 1/2

B. 2.33

C. 2/3

D. 0.43

E. 5

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