Mathematics, 02.10.2020 16:01 bullsfan4584
If the cross-price elasticity of demand between jelly and honey is 1.5,
Instructions: Enter your response as a percentage rounded to one decimal place. If you are entering a negative number be sure to include a negative sign in front of that number.
a. Are these complementary or substitute goods?
b. If the price of jelly increases by 10 percent by how much will the demand for honey change in percentage?
Answers: 2
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If the cross-price elasticity of demand between jelly and honey is 1.5,
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