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b. Should you increase the price of good Y? Briefly explain. Py increase then Qy decrease. Good X, elastic or inelaxtic? Consider both Eqy,py elastic

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b. Should you increase the price of good Y? Briefly explain. Py increase then Qy decrease. Good X, elastic or inelaxtic? Consider both Eqy,py elastic then change is -TRy and Eqx,py is +TRx. overall is unknown. Eqy,py inelastic then change is +TRy and Eqx,py is +TRx. overall is positive and you would increase Py

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