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Business, 28.02.2020 01:20 priscillarios30

For each scenario, calculate the cross-price elasticity between the two goods and identify how the goods are related. Please use the midpoint method when applicable, and specify answers to one decimal place.

a. A 20 % price increase for Product A causes a 10 % decrease in its quantity demanded, but no change in the quantity demanded for Product B.
b. Product C increases in price from $1 a pound to $2 a pound. This causes the quantity demanded for product D to increase from 27 units to 81 units.
c. When the price of Product E decreases 2%, this causes its quantity demanded to increase by 4% and the quantity demanded for Product F to increase 17%.

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