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Calculate and interpret the cross elasticity of product X and explain your decision on what to do with your inventory. (10pts) Qd1 Qd2 P1 P2

Calculate and interpret the cross elasticity of product X and explain your decision on what to do with your inventory. (10pts)

Qd1 Qd2 P1 P2
X 520 Decreased by 11% 38 Increased by 15%
Y 460 Decreased by 13% 37 Increased by 20%

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