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Calculate the crossprice elasticities in case of a decrease in the price of cabbages with 20 percent, an increase in the demand for tomatoes with
Calculate the crossprice elasticities in case of a decrease in the price of cabbages with 20 percent, an increase in the demand for tomatoes with 15 percent and a decrease in the demand for asparagus with 10 percent. Comment on whether tomatoes and asparagus can substitute or complement the cabbage. Use appropriate equations where possible. Three months after graduating from GAU you get a promotion and a 20% raise. Your consumption habits change accordingly. Use the following information to determine your income elasiicity of demand and state Whether the good is a normal good or inferior good. a. You consume 10% fewer froZen hot dogs. b. You consume 5% more pork chops
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