Question
I need help calculating a cross price elasticity between model X and the price of Y when own price is $10, the pice of Y
I need help calculating a cross price elasticity between model X and the price of Y when own price is $10, the pice of Y is $15, the price of Z is $24, and the household income is $42,000. How exactly should the producer of model X respond when the producer is Y raises its price, day by $1?
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Econometric Analysis
Authors: William H. Greene
5th Edition
130661899, 978-0130661890
