Question
18.The cross price elasticity of biscotti demand with respect to the price of Lattes is -0.70 (Lattes and biscotti are complementary goods).If the price of
18.The cross price elasticity of biscotti demand with respect to the price of Lattes is -0.70 (Lattes and biscotti are complementary goods).If the price of Lattes decreases 20%, what would you expect to happen to biscotti demand?
Possible answers:a.14% increase in biscotti demandb.44% decrease in biscotti demandc.30% decrease in biscotti demandd. 87.5% decrease in biscotti demande. 7.0% increase in biscotti demandf. 27% decrease in biscotti demand
19.Write the first derivative of the following function.
Y = 2X3 -3X2 +2X -50
20.Write the first derivative of the following function.
Y = 5X4/5 + 3X3 -2X3/2 -10
Please show work on how you solved the problems.
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