A 5 percent increase in the price of digital apps reduces the amount of tablet devices demanded

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A 5 percent increase in the price of digital apps reduces the amount of tablet devices demanded by 3 percent. What is the cross price elasticity of demand? Are tablet devices and digital apps complements or substitutes?

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Macroeconomics Principles Applications And Tools

ISBN: 9780134089034

7th Edition

Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez

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Question Posted: Jan 13, 2017 09:47 AM

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A 5 percent increase in the price of digital apps reduces the amount of tablet devices demanded

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Macroeconomics Principles Applications And Tools

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