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. (15 points) Elasticity a. What does the cross price elasticity of demand mean, in words? b. If the cross price elasticity of demand between

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. (15 points) Elasticity a. What does the cross price elasticity of demand mean, in words? b. If the cross price elasticity of demand between two goods is positive, they are referred to as goods. c. Lindsey is willing to purchase 2 bags of tortilla chips when the price of salsa is $2.50. If the price of salsa rises to $3 and she purchases only 1 bag of chips at the higher price, what is her cross price elasticity of demand between tortilla chips and salsa? SHOW YOUR WORK

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