Business, 12.07.2019 04:10 kcnawlay170
Suppose the own price elasticity of demand for good x is -3, its income elasticity is -3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good y is 2. determine how much the consumption of this good will change if: instructions: enter your answers as percentages. include a minus sign for all negative answers. a. the price of good x decreases by 7 percent. percent b. the price of good y increases by 9 percent. percent c. advertising decreases by 2 percent. percent d. income increases by 5 percent. percent
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Suppose the own price elasticity of demand for good x is -3, its income elasticity is -3, its advert...
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