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Business, 30.10.2019 01:31 china236

Last month, sellers of good y took in $100 in total revenue on sales of 50 units of good y. this month sellers of good y raised their price and took in $120 in total revenue on sales of 40 units of good y. at the same time, the price of good x stayed the same, but sales of good x increased from 20 units to 40 units. we can conclude that goods x and y area. they are substitutes, and have a cross-price elasticity of 0.60. b. they are complements, and have a cross-price elasticity of 0.60. c. they are substitutes, and have a cross-price clasticity of 1.67. d. they are complements, and have a cross-price elasticity of 1.67.

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Last month, sellers of good y took in $100 in total revenue on sales of 50 units of good y. this mon...
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