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2. Your company produces its product, the Widget; your brother runs a separate company that produces a product called the Wodget. In December, the Widget
2. Your company produces its product, the Widget; your brother runs a separate company that produces a product called the Wodget. In December, the Widget price was $85 and 1,160 Wodgets were sold; in January, the Widget price was $90 and 1,350 Wodgets were sold. a. Calculate the cross-price elasticity between the Widget and Wodget over these two months
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
1st edition
978-0137036059, 133379094, 321566440, 137036051, 9780133379099, 978-0321566447
