A 2 percent increase in the price of milk causes a 4 percent reduction in the quantity
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A 2 percent increase in the price of milk causes a 4 percent reduction in the quantity demanded of chocolate syrup. What is the cross-price elasticity of demand for chocolate syrup with respect to the price of milk? Are the two goods complements or substitutes? (LO7)
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Related Book For 
Principles Of Microeconomics A Streamlined Approach
ISBN: 9781264058785
4th Edition
Authors: Robert H. Frank
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