Please show all work and formulas If the crossprice elastici

Please show all work and formulas

If the cross-price elasticity between beets and carrots is 13, how will a 2% decrease in the price of beets impact the carrots market?

Solution

Ans

Cross elasticity shows change in quantity of one good due to change in price of substitute good. Here it will reduce demand for carrots by 13(2)=26%.Note as price of beetles drop more beetles are demanded and less carrots are in demand. 100% right answer. Please like answer