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a) The Price Elasticity of Demand (4 marks) b) The Cross - Price Elasticity of Demand (4 marks) c) The Income Elasticity of Demand
a) The Price Elasticity of Demand (4 marks) b) The Cross - Price Elasticity of Demand (4 marks) c) The Income Elasticity of Demand (4 marks) d) Estimate the percentage change in demand if PA rises by 3%. Is the alternative good substitutable or complementary? Q = 200 - 2P - PA + 0.1Y2 where P = 10, PA = 10, PA 15, and Y = 100,
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
