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If the own-price elasticity of demand for dry breakfast cereal is -2.5, what would be a likely value for the elasticity of demand for Kellogg
If the own-price elasticity of demand for dry breakfast cereal is -2.5, what would be a likely value for the elasticity of demand for Kellogg brand Corn Flakes?(Multiple Choice)
- Less than -2.5
- -2.5
- Greater than -2.5
- -2.5 divided by the number of other competing brands of corn flakes
- None of the above.
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