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'l. (a) Give an explanation of the following terms (i) Price elasticity of supply (ii) A luxury good (iii)A strong complement good (b) The price
'l. (a) Give an explanation of the following terms (i) Price elasticity of supply (ii) A luxury good (iii)A strong complement good (b) The price of Samsung mobile phones rises from 160 to 165. This leads to an increase in the quantity demanded of Nokia mobile phones from 8000 per week to 83?5. What is the cross price elasticity of demand for the mobile phones? What does this this suggest about the relationship between the two products
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