(Answered) A bevmo store has estimated that the cross price

Economics

A BevMo! store has estimated that the cross price elasticity between the number of bottles demanded of Macallan (12 years) and the price of Roquefort cheese is -1.8. A long strike in the region of Roquefort-sur-Soulzon is expected to increase the price of that cheese by 16.5% at the store. Based on this information, the number of bottles of Macallan demanded will

Increase by 20.5%
Increase by 8%
Decrease by 29.7%
Decreased by 18.6%

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Macroeconomics, Economics

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