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I need help on these 2 micro questions: Question 16 (4 points) The cross-price elasticity of demand between good 1 and good 2 is 0.5
I need help on these 2 micro questions:
Question 16 (4 points) The cross-price elasticity of demand between good 1 and good 2 is 0.5 Goods 1 and 2 are most likely O Inferior goods. O Complements. O Substitutes. O Normal goods. Question 17 (4 points) The supply curve for wheat is given by the equation Q5 = 5P. The demand curve for wheat is given by the equation P = - (1/5)QD + 10. Suppose the government wants to use a price support to allow for 40 units of wheat to be produced. Assume that storage costs are $0. How much will this program cost the governmentStep by Step Solution
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