4.13 Say that as a manager at a company supplying processed chicken, you are aware that a rise in the cost of feeding steers is predicted to lead to a 15 percent rise in the price of beef. Your analysts have estimated the cross-price elasticity between the demand for chicken and the price of beef is 0.12. You and a customer are negotiating the price at which you will sell them chicken for the next year. What do you predict will be the impact on the demand for chicken from the rise in the price of beef, and how does this estimate affect your negotiating position?